Settlements

ST-476
Olympus Latin America
Olympus Corporation
United States
Department of Justice
Central and South America
2016
3/1
Unknown
Legal Person
Criminal
Deferred Prosecution Agreement
Criminal Fine
$28,000,000
$28,000,000
$0
$0
$0
$0
$0
NA
Art.16
Art. 1, Art. 2
Bribery of Foreign Officials
Bribery of Foreign Officials
Yes
According to the US Department of Justice Press Release, as part of a larger enforcement action involving payment of kick-backs by the Olympus Corporation of America, its Miami based subsidiary Olympus Latin America "was charged with FCPA violations in connection with improper payments to health officials in Central and South America, and OLA entered into a separate three year DPA. According to court documents, from 2006 until August 2011, OLA implemented a plan to increase medical equipment sales in Central and South America by providing payments to health care practitioners at government owned health care facilities. These payments included cash, money transfers, personal grants, personal travel and free or heavily discounted equipment. The primary method to deliver these illicit benefits was through “training centers,” nominally set up to educate and train doctors, but which OLA used to provide benefits to preselected practitioners. OLA and its conspirators paid nearly $3 million to practitioners to induce the purchase of Olympus products and recognized more than $7.5 million in profits as a result." (Source: US Department of Justice Press Release, "Medical Equipment Company Will Pay $646 Million for Making Illegal Payments to Doctors and Hospitals in United States and Latin America," March 1, 2016.)