Once again, a company has failed to understand the importance of a functioning compliance program and this failure has cost them—a $20 million criminal penalty and other costly measures. In June, Princess Cruise Lines Ltd. (Princess) and its parent, Carnival Cruise Lines & plc, (together “Carnival”) were ordered to pay after admitting to violations of a previous plea agreement with the Department of Justice (DOJ). In addition to the penalty, Carnival is also now subject to more stringent probation terms for its latest transgressions.
The company’s executives were not spared either. The presiding federal judge compelled them to attend the ...
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