Russian Nuclear Official Pleads Guilty in FCPA-Related Case

Russia TENAM Corporation

On August 31, 2015, the DOJ announced that Vadim Mikerin, the former president of TENAM Corporation and a director of the Pan American Department of JSC Techsnabexport (TENEX), pleaded guilty to conspiracy to commit money laundering in connection with arranging over $2 million in bribes for contracts with the Russian state-owned nuclear energy corporation.  TENEX, a subsidiary of Russia’s State Atomic Energy Corporation, is based in Moscow and acts as the sole supplier and exporter of Russian Federation uranium and uranium enrichment services to nuclear power companies worldwide.  Mr. Mikerin admitted to conspiring to transfer funds from the United States to offshore accounts with the intent to perpetuate a bribery scheme in violation of the FCPA.  These bribes were made to influence the award of contracts to transport down-blended uranium to US nuclear utility providers.   As part of Mr. Mikerin’s plea agreement, he agreed to forfeit over $2.1 million he received in bribes.  Mr. Mikerin is expected to be sentenced in December, and faces up to five years in prison and a $250,000 fine. In addition to Mr. Mikerin, two other individuals, Darren Condrey and Boris Rubizhevsky, have pleaded guilty for their respective involvement in the scheme, including conspiracy to violate the FCPA and commit wire fraud, and conspiracy to commit money laundering, respectively.