One of the real reasons the corporations and their minions hate President Obama.
http://www.nytimes.com/2010/11/05/business/global/05bribe.html?_r=1 WASHINGTON (Reuters) Six companies including Swiss logistics firm Panalpina and Royal Dutch Shell have agreed to settle foreign bribery investigations and will pay some $236 million in criminal and civil penalties, the Obama administration said Thursday. A Panalpina unit has agreed to plead guilty, admitting to paying at least $27 million in bribes to officials in at least seven countries including Nigeria, Brazil and Russia from 2002 to 2007 on behalf of its oil and gas industry clients. They did so in order to circumvent local rules and regulations relating to the import of goods and materials into numerous foreign jurisdictions, the Justice Department said. Panalpinas clients, which included Shells Nigeria unit, a unit of Transocean, Tidewater, Pride International and the Noble Corporation, admitted to approving or condoning bribes on their behalf, the Justice Department said. Prides French unit is also pleading guilty in the case while the others reached deferred prosecution agreements with the Justice Department. The companies also settled related bribery complaints by the Securities and Exchange Commission. Collectively they will pay $236 million in criminal and civil penalties and disgorgement, with Panalpina paying the largest amount, almost $82 million. Shell will pay almost $48.2 million, according to the Justice Department and Securities and Exchange Commission. Shells Nigerian unit agreed to settle charges and pay $30 million in criminal penalties, the Justice Department said. The settlement is the latest in a series by the Obama administration as authorities try to crack down on corporations paying bribes to foreign officials in violation of the Foreign Corrupt Practic ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:331151 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
