The Securities and Exchange Commission (SEC) charged Italian company ENI and its former Dutch subsidiary Snamprogetti Netherlands with multiple violations of the Foreign Corrupt Practices Act (FCPA) in a bribery scheme that included deliveries of cash-filled briefcases and vehicles to Nigerian government officials to win construction contracts. Snamprogetti and ENI will jointly pay $125m to settle the SEC’s charges, and Snamprogetti will pay an additional $240m penalty to settle separate criminal proceedings announced today by the US Department of Justice.
SEC charges Italian company, Dutch subsidiary in bribing scheme
Most Popular Articles
Latest Articles
Pending home sales pick up in February: NAR
Transactions remain 7% lower on an annualized basis as mortgage rates remain an obstacle
-
11 real estate events & conferences to help you thrive in 2024
-
In quest to grow reverse business, US Mortgage Corporation hires Krajewski
-
NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions
-
Renters gain financial edge over homebuyers in key U.S. markets: Realtor.com
-
Reverse-centric Ibis Software appoints Sivori to board of directors