Settlements

ST-316
Schnitzer Steel Industries, Inc. / SSI International Far East Ltd.
Schnitzer Steel Industries, Inc.
United States
Department of Justice
China, South Korea
2006
10/16
Unknown
Legal Person
Criminal
Guilty Plea
Criminal Fine
$7,500,000.00
$7,500,000
$0
Art.16, Art.26
Art. 1, Art. 2, Art. 8
Conspiracy to Bribe Freign Oficials, Conspiracy to Falsify Books and Records, Conspiracy to Commit Wire Fraud, Bribery of Foreign Officials, Falsification of Books and Records, Wire Fraud, Aiding and Abetting Schnitzer Steel Industries' Falsification of Books and Records
Conspiracy to Bribe Freign Oficials, Conspiracy to Falsify Books and Records, Conspiracy to Commit Wire Fraud, Bribery of Foreign Officials, Falsification of Books and Records, Wire Fraud, Aiding and Abetting Schnitzer Steel Industries' Falsification of Books and Records
Yes
According to United States Report to the OECD, "On October 10, 2006, SSI International Far East Ltd. (SSI Korea), a wholly-owned subsidiary of Schnitzer Steel Industries Inc. (SSI), was charged with conspiracy, bribery in violation of the FCPA, wire fraud, and aiding and abetting the making of false entries in SSI's books and records. These charges stemmed from a decade-long scheme to bribe foreign officials in China and South Korea in order to obtain and retain business for SSI Korea and its Oregon-based parent company. In June 2007, Si Chan Wooh, a former senior executive officer of SSI, was charged by both the DOJ and SEC in connection with his role in the bribery scheme." (Source: US Report to the Organisation for Economic Co-operation and Development, "Steps taken to implement and enforce the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions," Information as of May 31, 2011, Schnitzer Steel Industries Inc. Case Summary at 88-90, accessed at http://www.oecd.org/dataoecd/18/8/42103833.pdf.) According to court documents, on October 14, 2011, the Department dropped its charges against Wooh. (Sources: US v. Si Chan Wooh, Case No. 3:07-cr-244 (D. Or.), Government's Unopposed Motion to Dismiss Information, filed October 14, 2011; Court Docket Entry indicating Order to Dismiss signed October 17, 2011.)