Business Parker Drilling agrees $15.85 million bribe charge

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The United State authorities have stepped up plans to possibly enforce action against top global miner for corrupt practices. Parker Drilling has agreed to pay $15.85 million charge to settle allegation by the SEC and the Department of Justice over that it bribed officials in Nigeria and Kazakhsta.


Securities and Exchange Commission, SEC, charged the worldwide drilling services and project management firm with violating the FCPA by authorizing improper payments to a third-party intermediary in order to entertain Nigerian officials involved in resolving the company’s customs disputes. Parker Drilling agreed to pay $4 million to settle the SEC’s charges in April.

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BHP has said previously it believed it had complied with all applicable laws in regards to its Olympics sponsorship, and said on Friday it has what it considers to be a “world class anti-corruption compliance program.”


Penalties for violations of the U.S. Foreign Corrupt Practices Act can vary widely, depending on, among other factors, the extent and duration of the violations, the level of benefit the company received, and the level of cooperation from the target of the probe.


In one recent case, French oil giant, Total SA agreed to pay $398 million to settle U.S. criminal and civil allegations that it paid $60 million in bribes to win oil and gas contracts in Iran over nine years. The company released the update on the anti-corruption probe ahead of its annual results, due on August 20, the first results under new Chief Executive Andrew Mackenzie.
 
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