Allegations that more than a billion dollars paid to the Nigerian government ended up with a company controlled by a former Nigerian oil minister have triggered a money-laundering investigation in the UK, according to a report Wednesday from Reuters.… Continue Reading
Posts Tagged: Panalpina
As part of its recent settlement with the SEC, Ralph Lauren Corporation agreed to disgorge $593,000 that was “obtained or retained as a result of the violations discovered during the investigation,” along with $141,846 in pre-judgment interest. … Continue Reading
Houston-based Parker Drilling Company resolved Foreign Corrupt Practices Act charges Tuesday for bribes paid to Nigerian officials through an agent to circumvent customs and tax laws.
Parker agreed to pay the DOJ a criminal penalty of $11.76 million.… Continue Reading
Oil services firm Nabors Industries Ltd. said Wednesday the DOJ won’t bring an FCPA enforcement action after an investigation first launched more than five years ago.
The SEC got the green light this week from a federal judge to charge two former Noble executives with FCPA-related offenses they committed after February 2007.
Judge Keith Ellison Tuesday refused to dismiss the SEC’s complaint but cut off claims that arose before early 2007 based on the FCPA’s five-year statute of limitations.… Continue Reading
The DOJ agreed last week to end Pride International’s deferred prosecution agreement a year early to reward the company for its enhanced compliance efforts.
Oil services firm Nabors Industries Ltd. was a customer of Panalpina but not among the six that settled FCPA cases on the same historic day in November 2010.
Panalpina, a Swiss-based logistics firm, admitted paying bribes to help customers move their drill rigs and other equipment in and out of Kazakhstan, Saudi Arabia, Algeria and Nigeria, among others.… Continue Reading
Houston-based Schlumberger Limited still faces a DOJ investigation for bribes paid to customs officials by global logistics firm Panalpina.