Ukrainian Gas Magnate Dmitry Firtash Claims His FCPA Indictment Is Politically Motivated

The FCPA indictment of Dmitry Firtash, a Ukrainian oil and gas magnate with close ties to the recently deposed Ukrainian President Victor Yanukovych, was unsealed this month following his arrest in Austria.  Firtash was released on $174 million bail with instructions to stay in the country.  He is a prominent figure in the Ukraine, and he claims the charges (conspiracy to violate the FCPA) are politically motivated, his company pointing out that his extradition comes at a time when he is needed in that volatile region. The DOJ, trumpeting its increased prosecutions of individuals for FCPA violations, charged Firtash and five other foreign nationals with participation in an international racketeering conspiracy.  The scheme allegedly included at least $18.5 million in bribes to Indian state and central government officials to allow the mining of titanium materials.  See “A Synthesis of Top Firms’ FCPA 2013 Year-in-Review Insights,” The FCPA Report, Vol. 3, No. 4 (Feb. 19, 2014) (discussing individual indictments).

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