Oil Contractor To Pay $1M To Avoid FCPA Case

Law360, New York (July 31, 2009, 4:16 PM EDT) -- Oil contractor Helmerich & Payne Inc. has agreed to pay $1 million as part of a nonprosecution deal with the U.S. Department of Justice to resolve improper payments made by company employees to government officials in Latin America in violation of the Foreign Corrupt Practices Act.

The DOJ announced the agreement in a statement Thursday.

The Oklahoma-based oil contractor discovered potential problems through its own internal controls and independently brought those problems to the attention of the Justice Department and the U.S. Securities and Exchange Commission,...
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