August 1, 2009 |
Control Components Inc. of Rancho Santa Margarita has pleaded guilty to paying bribes to officials at state-owned companies in China, Malaysia and the United Arab Emirates, U.S. prosecutors said. The maker of control valves used in nuclear, oil and gas power plants pleaded guilty to violating the U.S. Foreign Corrupt Practices Act and the Travel Act, U.S. Atty. Thomas O'Brien in Los Angeles said. The company was ordered to pay an $18.2-million fine. Control Components is a subsidiary of British firm IMI.
November 16, 1986
Fifty of the 400 acres in the Rancho Santa Margarita Business Park have now been spoken for by seven companies which plan to build about 680,000 square feet of space. The largest of the planned structures at the six-month-old Orange County project will be a $30-million, 300,000-square-foot structure to be occupied by Hughes Aircraft Co.'s Microelectronic Systems division. The structure will be built and owned by Los Angeles-based Ratkovich, Bowers & Perez. Burroughs Corp.
May 30, 2012 |
A former executive at an Orange County valve company pleaded guilty to bribing a Chinese government official, the U.S. Attorney's office announced Tuesday. Paul Cosgrove, former executive vice president of the Rancho Santa Margarita-based Control Components Inc., admitted to taking part in a foreign bribery scheme that resulted in a profit of $46.5 million, according to the U.S. Attorney in Los Angeles. Before U.S. District Judge James V. Selna in Santa Ana, he pleaded guilty to one count of making a corrupt payment of about $7,500 to a foreign government official in China.
April 18, 2012 |
Two former executives of an Orange County company pleaded guilty to foreign corruption charges for bribing overseas government officials in order to win sales contracts. Stuart Carson, former president of Control Components Inc., and Hong "Rose" Carson, the Rancho Santa Margarita company's former director of sales in China and Taiwan, are scheduled to be sentenced in October. The Carsons, who are married and live in San Clemente, pleaded guilty to bribery charges Monday during a hearing in Santa Ana before U.S. District Judge James V. Selna.
October 15, 1993
Bruce R. Peasland has been appointed chief financial officer of Statordyne Corp., an Anaheim manufacturer of power protection products. He was most recently business manager and chief financial officer of MacGillivray Freeman Films Inc., a film production and distribution company in Laguna Beach. Before that, Peasland served as vice president of finance and administration for Control Components Inc. He has also worked for British Petroleum Advanced Composites, Lear Siegler Inc.
July 7, 2010 |
An Italian citizen who worked as an overseas executive for an Orange County valve company has been extradited to the United States to face international bribery charges alongside five other company leaders, federal authorities said Tuesday. Flavio Ricotti is one of six executives at Control Components Inc. who are suspected of paying bribes to get contracts with private and state-owned foreign companies, according to a 16-count indictment in 2009. Ricotti, a 49-year-old resident of Bientina, Italy, was arrested in February in Frankfurt, Germany.