TechnipFMC plc paid the SEC $5 million Monday to settle FCPA offenses related to bribing Iraqi officials to win business with state-owned oil companies.
The London-headquartered oil and gas company
disgorged $4.3 million plus pre-judgment interest of $735,000 to the SEC.
the SEC
charged TechnipFMC with violating the FCPA’s books and records and internal accounting controls provisions.
From at least 2008 through 2013,
predecessor company FMC Technologies
made over $794,000 in payments to a third party consultant who used some of the money to bribe Iraqi government officials to win business from Iraq state-owned oil companies, the SEC said.
In June, TechnipFMC paid $296 million to settle FCPA offenses with the DOJ.
The DOJ
said the charges against TechnipFMC “arose out of two independent bribery schemes: a scheme by Technip to pay bribes to Brazilian officials and a scheme by FMC to pay bribes to officials in Iraq.”
But the DOJ said TechnipFMC would pay about $214 million of the total penalties to enforcement authorities in Brazil.
The penalties paid to the DOJ amounted to $81.9 million.
In Iraq beginning in 2008 and continuing until at least 2013, FMC bribed at least seven government officials “through a Monaco-based intermediary company,” the DOJ said in June.
The FCPA Blog
https://www.fcpablog.com/blog/2019/9/23/technipfmc-pays-sec-5-million-to-settle-fcpa-violations.html