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DOJ Fines Company $18.2 Million on Foreign Bribery Charges |
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The Department of Justice reports that a California-based company that designs and manufactures service control valves will pay an $18.2 million criminal fine for violating the Foreign Corrupt Practices Act. The company pleaded guilty to participating in a decade-long scheme to secure contracts in approximately 36 countries by paying a total of nearly $7 million in bribes to officials and employees of various foreign state-owned companies as well as foreign and domestic private companies. As part of the plea agreement, the company also agreed to create, implement and maintain a comprehensive anti-bribery compliance program; retain an independent compliance monitor for a three-year period to review the design and implementation of its anti-bribery compliance program and make periodic reports to the company and the DOJ; serve a three-year term of organizational probation; and continue to cooperate with the DOJ in its ongoing investigation.
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