The corruption cases databases are a product of the staff of the International Bank for Reconstruction and Development / The World Bank. It is intended for general information purposes only. The findings, interpretations, and conclusions expressed in the Database do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Neither the World Bank Group nor its officers or employees shall be liable for any losses that may result directly or indirectly from the use of or reliance upon such information.
Falsification of books and records; internal controls violations
No admission or denial of alleged offenses
See related entry, US Securities and Exchange Commission Cease and Desist Order issued against PTC Inc. The SEC announced that the Deferred Prosecution Agreement with Mr. Yuan was the first "with an individual in an FCPA case. DPAs facilitate and reward cooperation in SEC investigations by foregoing an enforcement action against an individual who agrees to cooperate fully and truthfully throughout the period of deferred prosecution. FCPA charges will be deferred for three years against Yu Kai Yuan, a former employee at one of PTC’s Chinese subsidiaries, as a result of significant cooperation he has provided during the SEC’s investigation." (Source: US Securities and Exchange Commission Press Release, "SEC: Tech Company Bribed Chinese Officials," February 16, 2016; See also, SEC-Yu Kai Yuan Deferred Prosecution Agreement, at https://www.sec.gov/litigation/admin/2016/34-77145-dpa.pdf
SEC-Yu Kai Yuan Deferred Prosecution Agreement, at https://www.sec.gov/litigation/admin/2016/34-77145-dpa.pdf; US Securities and Exchange Commission Press Release, "SEC: Tech Company Bribed Chinese Officials," February 16, 2016, at https://www.sec.gov/news/pressrelease/2016-29.html.
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