US authorities have charged a Maryland businessman with bribing a Russian official in an effort to win contracts to ship uranium to the US.
US prosecutors unsealed money laundering, foreign bribery and wire fraud charges against Mark Lambert, 54, in federal court in Greenbelt, Maryland, on Friday, January 12.
Lambert denies the allegations and plans to fight them in court, his attorney William Sullivan said during a pre-trial hearing.
Prosecutors allege Lambert, former co-president of a Maryland-based shipping company Transport Logistics International, bribed a Russian energy official through a series of shell companies in Cyprus, Latvia and Switzerland in exchange for contracts to ship nuclear fuel to US utilities.
The US Foreign Corrupt Practices Act makes it a crime for businesses to bribe overseas officials to win business.
For decades, Washington and Moscow had an agreement that converted uranium from Russia’s nuclear stockpiles to civilian grade fuel, which was shipped to the United States for use in civilian power plants.
The charges are the latest chapter in a sprawling federal investigation into corruption involved in Russia’s sale of uranium into the United States.
Full Content: Law 360
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI