Feds Tap Shell Oil In Investigation Of Import Bribes
Law360 (March 17, 2008, 12:00 AM EDT) -- The U.S. Department of Justice has contacted Shell Oil as part of its investigation of a shipping provider accused of bribery in locations worldwide, the company revealed in its annual report Monday.
Shell has started an internal investigation and is cooperating with the U.S. Department of Justice and the Securities and Exchange Commission investigations, the report said.
While these investigations are ongoing, Shell said it may face fines and additional costs for violations of the U.S. Foreign Corrupt Practices Act.
In July 2007, investigators probed Shell Oil, Royal Dutch Shell Plc's U.S. subsidiary, over its connections to Panalipina Inc., a global...
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