United States President Donald Trump, in an executive order signed on Monday, paused enforcement of a federal law – Foreign Corrupt Practices Act (FCPA) – that makes it a crime for US businesses to bribe foreign officials. This is the same act under which industrialist Gautam Adani has been charged.
Trump, while signing the order, said the law puts companies at a disadvantage on the global stage. Further, he ordered newly confirmed Attorney General Pam Bondi to immediately stop actions taken under FCPA. This includes prosecutions of American individuals and companies who the Department of Justice (DoJ) has charged with bribing foreign government officials in attempts to gain business in other countries. The suspension of the law could be a big relief for Gautam Adani who along with others was charged connection with an alleged bribery scheme in violation of FCPA.
#businesstoday #donaldtrump #gautamadani #adanigroup #ForeignCorruptPracticesAct #AdaniCase #globaltrade #CorporateBriberyCase #USIndiaRelations
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