From money laundering and false accounting to alleged interest rate manipulation, foreign markets proved to be fertile ground for securities and other fraud in 2011. In the past year, companies across the globe have been hit by investigations that have resulted in potential de-listings, litigation and billions of dollars in losses in shareholder value. Meanwhile, dozens of Chinese companies went public in the U.S. only to see their value plummet and produce a wave of regulator inquiries and class-action lawsuits. With European and U.S. banks facing mounting pressure from the LIBOR scandal, multinationals facing allegations involving bribery of foreign officials, and Asian companies operating under a cloud of economic uncertainty in China, it is apparent that securities and other fraud risk will continue to exist overseas.
This session will feature a panel composed of consultants and legal experts discussing examples of fraud abroad involving money laundering; interest rate fixing; Chinese companies undergoing reverse mergers; the impact of the infiltration of U.S.-style regulatory practices into foreign markets and how it has reshaped the way countries prosecute fraud; the implications of overseas fraud; and the warning signs related to overseas fraud.