We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Fiat To Pay $17M Over Iraq Oil-For-Food Kickbacks

Law360 (December 29, 2008, 12:00 AM EST) -- Fiat SpA has agreed to pay roughly $17 million to settle allegations that it gave illegal kickbacks to the Iraqi government in transactions related to the United Nations’ Oil-for-Food program.

The U.S. Securities and Exchange Commission filed the suit against Fiat and its majority-owned subsidiary CNH Global NV on Dec. 22 in the U.S. District Court for the District of Columbia, alleging that the Italian automaker made approximately $4.3 million in kickback payments to Iraqi officials under the program.

From approximately 2000 to 2003, according to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.