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Weir To Pay £14M Over Iraq Oil-For-Food Kickbacks

Law360 (December 13, 2010, 3:37 PM EST) -- The U.K.’s The Weir Group PLC announced Monday that it would plead guilty to breaching United Nations sanctions in connection with Oil-for-Food contracts in Iraq and pay a £14 million ($22.2 million) fine.

The Glasgow, Scotland-based engineering company said it agreed with the Crown Office in Edinburgh to formally enter the plea on Tuesday in the High Court of Justiciary and would face sentencing that is expected to include an additional fine to be determined by the court.

"What happened was wrong,” said Weir Chairman Lord...
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