NY man charged in bribery case involving Kazakhstan officials pleads guilty to a misdemeanorBy AP
Friday, August 6, 2010
NY man accused of Kazakhstan bribery pleads guilty
NEW YORK — A New York businessman once accused of paying tens of millions of dollars in bribes to Kazakhstan officials has pleaded guilty to a misdemeanor tax count.
Businessman James H. Giffen left federal court in Manhattan on Friday smiling after his $10 million bail was reduced to $250,000.
He pleaded guilty to failing to note on his U.S. taxes that he controlled a bank account in Switzerland. He faces up to a year in prison and a $25,000 fine.
However, Giffen’s small New York merchant bank pleaded guilty to violating the Foreign Corrupt Practices Act. It admitted trying to influence Kazakhstan officials to favor it in contracts by sending two snowmobiles worth a total of $16,000 as a New Year’s gift in 1999.
Tags: Asia, Bribery, Central Asia, Graft And Conflicts Of Interest, Kazakhstan, New York, North America, United States