The Turkish energy company transferred at least $2.5 million to the intermediary company. All or most of the money were used to bribe the Ghanian government officials responsible for approving the power plant project.
Additionally, the SEC alleged that Berko helped the intermediary pay more than $200,000 in bribes to various other government officials. He also allegedly personally paid over $60,000 to members of the Ghanian parliament and other officials.
Berko allegedly took deliberate measures to prevent his employer from discovering his bribery scheme. He used his personal e-mail instead of his work e-mail to arrange the bribery to avoid detection. He misled his employer’s personnel about the true role and purpose of the intermediary company.
However, his employer required additional due diligence to further determine the potential reputational risks associated with the power plant project. As part of the due diligence, his employer’s compliance personnel reviewed Berko’s emails and discovered the involvement of the intermediary and started an investigation into the matter. In August 2016, Berko’s employer terminated its involvement in the power plant project.
U.S. bank holding company was not involved in the bribery scheme
In a statement, Charles Cain, chief of the SEC Enforcement Division’s FCPA unit said, As alleged in our complaint, Berko orchestrated a scheme to bribe high-level Ghanaian officials in pursuit of firm business and his own enrichment. Berko’s misconduct was egregious and individual accountability remains a key component to our FCPA enforcement efforts. The firm’s compliance personnel took appropriate steps to prevent the firm from participating in the transaction and it is not being charged.”
