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Browse: Home / 2010 / July / 01 / France’s Technip Agrees to Pay $338 Million to Resolve DOJ, SEC Corruption Charges

France’s Technip Agrees to Pay $338 Million to Resolve DOJ, SEC Corruption Charges

By Securities Docket on July 1, 2010, 4:47 pm

Technip SA, a French oilfield-services provider, will pay $338 million to avoid U.S. prosecution and resolve SEC claims that it bribed Nigerian officials to win $6 billion in construction contracts, Bloomberg reports.

The company has entered into a deferred-prosecution agreement under which prosecutors will drop charges in two years if Technip pays a $240 million fine and makes reforms. In addition, the firm has agreed to pay $98 million to resolve the SEC’s claims.

Bloomberg: Technip to Pay $338 Million to Settle Bribery Case

Posted in Global, Top | Tagged Anti-corruption, Settlements

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