This seems to be a hot issue these days.  First in the case of United States v. Carson (see discussion of Mike Koehler here) and now in the Lindsay case (see here for prior discussion of this case). The question in the Lindsay case is whether the FCPA applies to state-owned entities.

See Motion – Download 600740499_Motion to Dismiss the First Superseding Indictment CONFORMED 02-28-11

(esp)