Oil Services, Freight Companies Settle FCPA Claims for $236 Million

, The National Law Journal

The Justice Department and the Securities and Exchange Commission today announced sweeping settlements against seven oil services and freight forwarding companies for bribing foreign officials, with total penalties of $236 million. Panalpina World Transport and its U.S. subsidiary admitted in documents filed in U.S. District Court for the Southern District of Texas to bribing officials in countries including Angola, Azerbaijan, Brazil, Kazakhstan, Nigeria, Russia and Turkmenistan on behalf of customers in the oil and gas industry.

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