York Pays $22M To Settle Oil-For-Food Charges

Law360, New York (October 1, 2007, 12:00 AM EDT) -- York International Corp. on Monday became the latest company to settle allegations that it paid kickbacks to the Iraqi government in order to obtain contracts under the United Nations' oil-for-food program.

Under an agreement reached Monday, York will pay the Department of Justice a $10 million penalty and have its compliance procedures reviewed by an independent consultant for at least three years. If York abides by the terms of the settlement, then the government will not bring criminal charges, the DOJ said.

Also on Monday, York...
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