It seems that corporate greed has led to business fraud charges against an Orange County, California corporation with international business dealings. Control Components, Inc. (better known as CCI) is an Orange County, California based corporation that designs and manufactures service and control vales for the oil and gas industries as well as for nuclear power plants. The company distributes its products globally.
In July of 2009, the company pleaded guilty to paying illegal bribes to company representatives in China, Malaysia and the United Arab Emirates. The bribes brought CCI an additional $55 million in profits over a five year period. The company has paid an $18.2 million dollar fine for the offences.
Now an Italian citizen who worked for the company has been located and extradited to the United States to answer charges of international bribery in relation to the 2009 case. Flavio Ricotti will join five other CCI executives who are also being charged in the matter. The other executives are Stuart Carson, Hong Carson, Paul Cosgrove, David Edmonds and Han Yong Kim.
Two other CCI executives, Richard Morlok and Mario Covina have already pleaded guilty to bribery charges and have agreed to cooperate with prosecutors as part of a plea deal.
Complex business fraud litigations are Callahan & Blaine’s specialty. Our business litigation practice reflects the firm’s commitment to client service and outstanding results across a wide range of litigation problems — employment disputes, trade secrets violations, ownership issues, and shareholders’ rights. We’ve been working toward building the ideal civil trial practice since we opened our doors in 1984, and complex business litigation has formed the central core of our work at every step of the way.
Now with 25 trial lawyers who have concentrated experience in a wide variety of legal disciplines, our law firm offers business litigants an impressive set of credentials and client service values. Whether your firm is the plaintiff or defendant in complex business litigation, contact Callahan & Blaine for unparalleled business legal representation.
