Willbros Enters $10.3M SEC Deal Over Bribery, Fraud

Law360, New York (May 15, 2008, 12:00 AM EDT) -- Willbros Group Inc. will pay $10.3 million to settle the U.S. Securities and Exchange Commission's civil enforcement action concerning the oil-and-gas-services company's alleged $6 million Nigerian bribery scheme.

The SEC filed its complaint Wednesday in the U.S. District Court for the Southern District of Texas with the understanding that a settlement was in the works. Four former company officials, who were also defendants, also settled.

Willbros violated the Foreign Corrupt Practices Act with a “bribery scheme” that involved paying officials in a company that is majority-owned...
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