The Last Panalpina Case?

Houston-based Schlumberger Limited still faces a DOJ investigation for bribes paid to customs officials by global logistics firm Panalpina.

In 2010, Panalpina and six of its customers made FCPA history when they simultaneously settled with the DOJ and SEC. Together they paid more than $236 million in criminal fines and civil disgorgement.

Panalpina bribed foreign officials on behalf of the customers for customs clearance.

Will one more customer be charged? Maybe.

Here’s what Schlumberger disclosed in its 10-Q filed with the SEC on July 25:

In 2007, Schlumberger received an inquiry from the United States Department of Justice (“DOJ”) related to the DOJ’s investigation of whether certain freight forwarding and customs clearance services of Panalpina, Inc., and other companies provided to oil and oilfield service companies, including Schlumberger, violated the Foreign Corrupt Practices Act. Schlumberger is cooperating with the governmental authorities.

Global Industries, another Panalpina customer, was also investigated by the DOJ and SEC. It wasn’t charged because of its effective compliance program and early self disclosure. French oil and gas services firm Technip later acquired Global Industries.

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Research courtesy of ethiXbase, the world’s largest database of anti-corruption legislation, gift-giving regulations, investigations, and enforcement actions.