Glenn S. Leon, Chief, Fraud Section, Criminal Division
Elina Rubin-Smith, Trial Attorney, Fraud Section, Criminal Division
Katherine A. Raut, Trial Attorney, Fraud Section, Criminal Division
US Assisting Agencies: Unknown
Foreign Enforcement Action/Investigation: Unknown
Foreign Assisting Agencies: Unknown
Origin of the Proceeding:
Unknown
Whistleblower:
Unknown
Case Status:
Ongoing
Summary
Deepak Sharma was, according to independent research by the Clearinghouse, likely an executive was AAR International, Inc., which was a wholly-owned subsidiary of AAR Corporation, an Illinois-based provider of aviation services whose common stock traded on the New York and Chicago Stock Exchanges.
According to the documents in this case, between November 2015 and August 2018, Sharma conspired with others to pay bribes to Nepali officials in order to win a bid to sell two Airbus A330-200 aircraft on behalf of AAR Corp to Nepal Airlines Corporation, the state-owned flag carrier airline of Nepal.
On June 24, 2024, the DOJ filed a single count information under seal in the District of Columbia against Sharma alleging a conspiracy to violate the antibribery provisions of the FCPA. The court unsealed the case on August 1, 2024 in connection with a plea agreement filed that day. Sanctions have not yet been determined, so this case is ongoing.
In a related administrative proceeding settled on December 19, 2024, the SEC ordered Sharma to cease and desist violations of the anti-bribery, books and records, and internal controls provisions of the FCPA. Under the terms of the settlement, Sharma agreed to pay disgorgement of $130,835 plus prejudgment interest of $53,762. The SEC determined that a civil penalty was unnecessary in light of Sharma's guilty plea in the DOJ's parallel proceeding, and the SEC further deemed that his forfeiture of $130,835 in the DOJ proceeding would satisfy the disgorgement (though not the interest) in the SEC proceeding. The SEC noted Sharma's cooperation.
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