International Due Diligence Case Study
The following case study is an example of Kreller investigative strategies to help clients avoid foreign corrupt practices.
Due to the covert nature of the industry, client names are proprietary; however, the following case study represents a cross section of international investigations recently conducted on behalf of Kreller clients.
Greece, Medical & Pharmaceutical
A Fortune 50 major medical device/pharmaceutical company conducted a routine internal audit in Greece. Upon return to her hotel room, an audit team member found flowers and a note from a whistleblower with a description of a lucrative kick-back scheme involving one of the company’s local distributors and the client’s country manager.
Kreller’s investigator conducted extensive research on both parties. Research revealed the country manager’s brother-in-law owned the local distributor operation. In addition, findings indicated that the country manager was living well beyond his means, owning multiple cars, boats and homes in expensive locales.
The medical device/pharmaceutical company dismissed the country manager and he was subsequently prosecuted for fraud.
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Kreller’s due diligence team has been a valued partner to our company. They have provided comprehensive resources to help us build our international trade compliance program. Their boots-on-the-ground approach to vetting third party vendors has become indispensable. Kreller delivers sound advice on many global issues and their services consistently support our company’s efforts to mitigate risk and manage the expense of ongoing due diligence initiatives.
DIRECTOR OF CORPORATE COMPLIANCE, A MULTI-BILLION DOLLAR MANUFACTURING COMPANY