Maxwell Tech To Pay $14M Over FCPA Allegations

Law360, New York (January 31, 2011, 7:48 PM EST) -- San Diego-based electricity storage and transmission company Maxwell Technologies Inc. has agreed to pay more than $14 million to settle civil claims and criminal charges against it for allegedly bribing Chinese government officials in exchange for electric utilities contracts.

The U.S. Department of Justice filed criminal information against Maxwell in the U.S. District Court for the Southern District of California on Monday, charging the company with violating the Foreign Corrupt Practices Act’s anti-bribery provisions and book and record provisions.

The DOJ also filed a deferred prosecution...
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