HW Wood unable to pay $22.5mn DoJ fine in Ecuadorean bribery case
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HW Wood unable to pay $22.5mn DoJ fine in Ecuadorean bribery case

Jairo Ibarra
November 23, 2023
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Legal office of lawyers, justice and law concept : Wooden judge gavel or a wood hammer and a soundboard used by a judge person on a desk in a courtroom with a blurred brass scale of justice behind.

The US Department of Justice has reduced HW Wood’s fine to $508,000 from a $22.5mn penalty and a $2.3mn forfeiture due to the Lloyd’s broker’s “demonstrated inability” to pay.

The fine and forfeiture resulted from the US DOJ’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising from HW Wood’s alleged participation in a corrupt scheme to pay bribes to Ecuadorian government officials.

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Jairo Ibarra
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