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Browse: Home / 2010 / February / 15 / Daimler AG to Settle FCPA Case for $200 Million

Daimler AG to Settle FCPA Case for $200 Million

By Securities Docket on February 15, 2010, 3:11 pm

Daimler AG, the German car company, has agreed to pay $200 million to resolve a U.S. investigation into whether it paid bribes to secure business overseas. Two of its subsidiaries will plead guilty as part of the deal.

With this agreement, the carmaker seeks to conclude a DOJ probe of whether it violated the Foreign Corrupt Practices Act by bribing government officials and a related civil investigation by the SEC, Bloomberg reports.

The deal has been presented to U.S. District Judge Richard Leon in Washington, and is subject to his approval.

Read the Bloomberg article

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Posted in Criminal, SEC | Tagged FCPA, Settlements

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