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.
Posts Tagged: Saudi Arabia
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
Tyco International Ltd. agreed on Monday to pay criminal and civil penalties totaling more than $26 million to resolve Foreign Corrupt Practices Act violations.
The Switzerland-based maker of fire security products paid more than $13.6 million in criminal penalties to the DOJ, and $13 million in civil penalties to the SEC.… Continue Reading
Great post Tuesday by our cousins at thebriberyact.com.
They said the U.K. government has been intervening with overseas governments on behalf of U.K. businesses reporting problems with local corruption.
‘Since the passing of the Bribery Act in July 2010,’ the post said, ‘there have been four cases where U.K.… Continue Reading
One of the most glaring, if unremarked, oddities concerning China nowadays is how perceptions of its leaders diverge depending on the observer. In the eyes of the Chinese public, government officials are venal, incompetent, and interested solely in getting lucrative appointments.… Continue Reading
The Financial Times said Tuesday that an internal financial controller alerted senior EADS executives as early as 2007 that alleged bribes might be going to Saudi Arabian officials.
Carola Hoyos, the Times’ defense correspondent, said the financial controller was concerned about payments to Cayman Island bank accounts and gifts to Saudi royal family members and military officials.… Continue Reading
The U.K. Serious Fraud Office said this week it is investigating possible bribes in Saudi Arabia by a company owned by European defense contractor EADS.
A former employee of Britain-based GPT Special Project Management Ltd reportedly said the company gave Saudi Arabian officials cars, jewellery, and cash to win a £2 billion communications contract.… Continue Reading
Brazilian aircraft maker Embraer said this week it received a subpoena from the U.S. Securities and Exchange Commission relating to possible violations of the Foreign Corrupt Practices Act.
Embraer is the world’s third largest commercial aircraft manufacturer.… Continue Reading