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Baker Hughes Pays $44M To Bury Bribery Charges

Law360 (April 27, 2007, 12:00 AM EDT) -- Texas oil giant Baker Hughes has agreed to shell out $44.1 million to settle an array of criminal and civil charges stemming from its bribery of officials in Kazakhstan and a handful of other countries in an effort to win oil field contracts.

On Thursday, a subsidiary of Baker Hughes pled guilty to violations of the Foreign Corrupt Practices Act related to the Kazakhstan payments that took place between 2001 and 2003, ending a long-standing probe.

Baker Hughes also entered into a deferred prosecution agreement with...
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