ABC Corp decided to enter a new market in the country of Wakanda and hired a local representative named Bob to assist in making important contacts in the country and obtaining new business with the Wakandan government and in the private sector. ABC bid on several projects with Bob's assistance and was thrilled to learn the Wakandan government awarded ABC a $30M contract to build a school campus. ABC was particularly surprised because they had little experience in building campuses. Unfortunately, an international funding bank that was backing the project conducted an audit and immediately applied sanctions against ABC for bid rigging and corruption. ABC claimed it was not involved and it must have been Bob who was responsible.

What liability does ABC Corp have in light of the allegations? What liability does Bob have? What could ABC have done to prevent this or to mitigate the situation? Describe all elements in detail.