German Co. To Pay $32M In Nigeria Pipeline Bribery Plot

Law360, New York (December 9, 2013, 6:26 PM EST) -- A German engineering firm will pay $32 million to resolve allegations it breached the Foreign Corrupt Practices Act by bribing Nigerian government officials in an effort to score a $387 million natural gas pipeline contract, federal officials announced Monday.

The Federal Bureau of Investigation says Mannheim, Germany-based Bilfinger SE will pay the penalty and institute a system of “rigorous internal controls” to resolve a three-count Texas criminal information. The government has accused Bilfinger of conspiring with a subsidiary of Houston-based Willbros Group Inc. and others to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.