SEC Charges BIT Mining with FCPA Violations in Connection with Bribery Scheme to Influence Members of Japanese Parliament

The Securities and Exchange Commission (SEC) has announced a significant enforcement action involving BIT Mining Ltd., formerly known as 500.com Limited, for violations of the Foreign Corrupt Practices Act (FCPA). The company has agreed to pay a $4 million civil penalty to resolve charges stemming from a bribery scheme that took place from 2017 to 2019. The scheme aimed to influence Japanese government officials, including members of Japan’s parliament, in an effort to establish an integrated resort and casino in the country.