SEC Contract Filing

Filing Date: 2020-08-06

Document Content:
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<TYPE>EX-10.1
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<FILENAME>a52262699ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
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 <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
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 <div style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">U.S. Department of Justice</div>
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 <div style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Criminal Division</div>
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 <td style="width: 50%; text-align: left; vertical-align: top; font-style: italic;" rowspan="1">Fraud Section</td>
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 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Bond Building</div>
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 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Washington, D.C. 20530</div>
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 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Mark E. Schamel </div>
 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Robert R. Ambler, Jr. </div>
 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">James E. Connelly</div>
 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Womble Bond Dickinson LLP</div>
 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">1200 Nineteenth St. NW, Suite 500</div>
 <div style="text-align: left; font-family: 'Times New Roman',Times,serif; font-size: 10pt;">Washington D.C., 20036</div>
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 <div style="text-align: left; text-indent: 54.8pt; margin-right: 218.75pt; margin-left: 6.1pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Re: World Acceptance Corporation Dear Counsel,</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Consistent with the FCPA Corporate Enforcement Policy, the Department of Justice, Criminal Division, Fraud Section, and the United
 States Attorney's Office for the Southern District of New York (collectively, the "Department") has declined prosecution of your client, World Acceptance Corporation ("World" or the "Company") for violations of the Foreign Corrupt Practices Act (the
 "FCPA"), 15 U.S.C. &#167;&#167; 78dd-l, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">et seq. </font>We have reached this conclusion despite the bribery committed by employees of the Company and its
 subsidiaries <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">in </font>Mexico.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Department's investigation found evidence that beginning in 2010 and continuing through 2017, World's Mexican subsidiary, through
 its employees and agents, paid over $4,000,000 to third-party intermediaries that was used, in part, to pay bribes to Mexican union officials and state government officials in order to obtain contracts with Mexican unions and Mexican state
 governments that allowed World to make loans to union members and to receive payments on such loans directly from the unions, which withheld the amount of the loan repayment from the paychecks of the union members.</div>
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 <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The Department has decided to decline prosecution of this matter based on an assessment of the factors set forth in the Corporate
 Enforcement Policy, Justice Manual ("JM") 9-47.120, and the Principles of Federal Prosecution of Business Organizations, JM 9-28.300, including but not limited to: (1) World's prompt, voluntary self-disclosure of the misconduct; (2) World's full and
 proactive cooperation&#160; in this matter (including its provision of all known relevant facts about the misconduct); (3) the nature and seriousness of the offense; (4) World' s full remediation, including the additional FCPA training added to World's
 compliance program, separation from executives under whom the misconduct took place; and discontinuing relationships with third parties in Mexico involved in the misconduct; and (5) the fact that World agrees to and will disgorge to the U.S.
 Securities and Exchange Commission the full amount of its ill-gotten gains.</div>
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