Salt Lake Olympic Bribery Scandal Essay

8624 Words May 5th, 2013 35 Pages
I. INTRODUCTION
The Olympic Games took place in the United States at Salt Lake City, Utah. The tournament opened on February 8, 2002 and closed on February 24, 2002. There were 77 NOCs, 2,399 athletes, 78 events, 22,000 volunteers and 8,730 of the media. “The Games saw the expansion of the Olympic program to 78 events, including the return of skeleton and the introduction of women’s bobsleighs. Athletes from a record 18 National Olympic Committees earned gold medals, including first-ever gold for China and Australia” (Olympic.org).
The Olympic International Committee is the supreme authority of the entire Olympic Games, responsible for organizing and maintaining a successful event. “Acting as a catalyst for collaboration between all
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Congress enacted the FCPA to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business system. The FCPA was intended to have (and has had) an enormous impact on the way American firms do business. Several firms that paid bribes to foreign officials have been the subject of criminal and civil enforcement actions, resulting in large fines and suspension and debarment from federal procurement contracting, and their employees and officers have gone to jail. To avoid such consequences, many firms have implemented detailed compliance programs intended to prevent and to detect any improper payments by employees and agents. The FCPA prohibits any American citizen to be involved in committing any bribery for business issues. Paying or receiving money or anything of value makes it against the law and punishment should be enforced by the government in order for justice to take place. As mentioned in the Lay-Parson’s Guide to FCPA, “The anti-bribery provisions of the FCPA make it unlawful for a U.S. person, and certain foreign issuers of securities, to make a corrupt payment to a foreign official for the purpose of obtaining or retaining business for or with, or directing business to, any person. Since 1998, they also apply to foreign firms and persons who take any act in furtherance of such a corrupt payment while in the United States.”
The intention of this illegal…