May 9, 2021

Maryland transportation executive sentenced to 24 months in prison for FCPA-related violations

On April 30, 2021, Daren Condrey was sentenced to 24 months in prison in the US District Court for the District of Maryland for his role in a bribery and money laundering scheme in which unlawful payments totaling to more than $2 million were made to a Russian official in an effort to obtain contracts with JSC Techsnabexport (TENEX), a subsidiary of state-owned nuclear energy company Russian State Atomic Energy Corporation.  Condrey was also ordered to pay a $12,500 criminal fine.

In 2015, Condrey, a former co-president of Maryland-based transportation company Transport Logistics International Inc. (TLI), pleaded guilty to one count of conspiracy to violate the Foreign Corrupt Practices Act and commit wire fraud.  Condrey admitted to conspiring with Mark Lambert, another former co-president of TLI, and Vadim Mikerin, the former president of TENAM Corporation, a Maryland-based wholly-owned subsidiary of TENEX.  The goal of the conspiracy was to bribe Mikerin in order to obtain contracts with TENEX.  According to court documents, in order to conceal the bribes, Condrey wired payments from US bank accounts to offshore shell company accounts in Cyprus, Latvia, and Switzerland for the benefit of Mikerin.  According to his plea agreement, Condrey and his co-conspirators also used code words such as “lucky figures,” “LF,” and “cake” in an attempt to covertly share details of the improper payments.  

Mikerin pleaded guilty in 2015 to conspiracy to commit money laundering for his role in the scheme.  He received a sentence of 48 months in prison and was required to forfeit approximately $2 million under his plea agreement with federal prosecutors. Lambert was sentenced to 48 months in prison in October 2020 for his role in the scheme after being convicted in November 2019 of four counts of violating the FCPA, two counts of wire fraud, and one count of conspiracy to violate the FCPA and commit wire fraud.  

Judgment |Information| Plea Agreement | Press Release (2015)