The SEC filed a settled action on Monday charging NATCO Group Inc. with violations of the books and records and internal controls provisions of the Foreign Corrupt Practice Act. The SEC alleges that TEST Automation & Controls, Inc., a wholly owned subsidiary of NATCO, created and accepted false documents while paying extorted immigration fines and obtaining immigration visas in the Republic of Kazakhstan.
NATCO agreed to pay a $65,000 civil penalty while neither admitting or denying the SEC’s allegations.
