Titan cops to bribery

Titan Corp. pleaded guilty March 1 to criminal charges that it bribed foreign officials for business favors, and agreed to pay $28.5 million in criminal and civil fines to the federal government to settle the charges.

The San Diego defense and IT contractor pleaded guilty in the U.S. District Court for the Southern District of California to three felony counts involving its overseas operations, particularly in the West African country of Benin.

The charges include violating the anti-bribery provisions of the 1977 Foreign Corrupt Practices Act, falsifying company books and records and preparing a false tax return. The act prohibits U.S. companies from bribing foreign government officials to win or keep business.

Titan paid a $13 million fine to the Justice Department to settle the charges and agreed to three years of supervised probation. The company also must implement a compliance program to detect and deter future violations of the act.

To settle the Security and Exchange Commission's charges, Titan agreed to pay $15.5 million. In settling with SEC, Titan did not admit liability.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close
SEARCH
contracts DB

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Read More

  • Is SBA MIA on contractor fraud? Nick Wakeman

    Editor Nick Wakeman explores the puzzle of why SBA has been so silent on the latest contractor fraud scandal when it has been so quick to act in other cases. Read More

Webcasts

  • How Do You Support the Project Lifecycle?

    How do best-in-class project-based companies create and actively mature successful organizations? They find the right mix of people, processes and tools that enable them to effectively manage the project lifecycle. REGISTER for this webinar to hear how properly managing the cycle of capture, bid, accounting, execution, IPM and analysis will allow you to better manage your programs to stay on scope, schedule and budget. Learn More!

  • Sequestration, LPTA and the Top 100

    Join Washington Technology’s Editor-in-Chief Nick Wakeman as he analyzes the annual Top 100 list and reveals critical insights into how market trends have impacted its composition. You'll learn what movements of individual companies means and how the market overall is being impacted by the current budget environment, how the Top 100 rankings reflect the major trends in the market today and how the biggest companies in the market are adapting to today’s competitive environment. Learn More!