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Bribery

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  • NEW YORK— BHP Billiton has agreed to pay $25 million to settle Securities and Exchange Commission charges that it violated anti-bribery laws by failing to have a proper system in place to prevent the risk of bribery when it paid for trips of 60 government officials to the 2008 Beijing Olympic Games. The SEC said the mining company brought 60 government...

  • May 20- BHP Billiton has agreed to pay $25 million to settle U.S. regulatory charges that it improperly sponsored the attendance of foreign government officials at the 2008 Summer Olympics in Beijing. The U.S. Securities and Exchange Commission accused BHP of violating the Foreign Corrupt Practices Act, a U.S. anti-bribery law, by enabling foreign government...

  • SAO PAULO, May 7- German engineering firm Bilfinger has become the first international company to disclose to Brazil that it may have paid bribes as it seeks leniency under a new anti-corruption law, Comptroller General Valdir Simão said on Thursday. By reporting potential graft to the comptroller, known by the acronym CGU, Bilfinger hopes to continue...

  • Siemens, regulator deny China bribery report Tuesday, 5 May 2015 | 10:55 AM ET

    SHANGHAI, May 5- Siemens AG and China's State Administration for Industry and Commerce, a competition regulator, denied a Reuters report that the SAIC investigated the German group's healthcare unit and its dealers for "commercial bribery". "The SAIC has not launched a commercial bribery investigation into Siemens Healthcare Unit," a spokesperson for the...

  • SAO PAULO, May 4- Recent setbacks for prosecutors in a huge corruption scheme at Brazil's state-run oil company Petroleo Brasileiro SA suggest they will struggle to win as many convictions as they seek. The Supreme Court's decision last week to release from jail nine executives at construction companies suspected of paying bribes in the scheme, and put them...

  • NEW YORK, May 1- U.S. authorities said on Friday that a unit of Express Scripts Holding Co will pay $60 million to resolve claims that it participated in a kickback scheme with Novartis AG to boost sales of a drug that led to improper government reimbursements. Specialty pharmacy Accredo Health Group Inc has agreed to pay $45.1 million to the federal government...

  • NEW YORK, May 1- A unit of pharmacy benefits manager Express Scripts Holding Co will pay $45 million to resolve U.S. claims it participated in a kickback scheme with Novartis AG to boost sales of a drug that led to improper government reimbursements. The settlement with specialty pharmacy Accredo Health Group Inc was disclosed in court papers filed Thursday in...

  • BRASILIA, April 23- Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's CEO said on Thursday. Van Beurden briefed Brazilian President Dilma Rousseff for 1-1/ 2 hours on Thursday on his company's...

  • RIO DE JANEIRO, April 22- Brazilian state-run oil company Petrobras reported its biggest-ever loss on Wednesday, the result of a 50.8- billion-real write-down in the wake of a massive corruption scandal. A widening international probe of contract fixing, bribery and political kickbacks at the company, formally called Petroleo Brasileiro SA, led to lengthy...

  • Judge Sergio Moro also convicted black-market money dealer Alberto Youssef for laundering bribe money and sentenced him to nine years and two months in prison. It was initially the arrest of Youssef and then of Costa in March last year that set off the multibillion-dollar political kickback scandal, Brazil's biggest ever. Since the arrests of Youssef and...

  • Turmoil at Petrobras   Wednesday, 22 Apr 2015 | 9:47 AM ET
    Turmoil at Petrobras

    Roughly 50 people have been arrested or charged in the Petrobras bribery scandal, reports CNBC's Michelle Caruso-Cabrera.

  • ITABORAÍ, Brazil, April 20- For the 20 men hanging on at the Pousada do Trabalhador, a 600- bed boarding house on the dusty outskirts of this boom town northeast of Rio de Janeiro, the dream that Brazil's oil wealth would bring a better life was over. The men are the latest victims of Brazil's biggest-ever corruption scandal, a multi-billion dollar graft scheme...

  • CURITIBA, Brazil, April 15- Brazilian police on Wednesday arrested the treasurer of the ruling Workers' Party Joao Vaccari, moving an investigation of graft and political kickbacks at state-run oil company Petrobras closer to President Dilma Rousseff's inner circle. He said all campaign donations to the Workers' Party from the construction and engineering...

  • BEIJING, April 13- The former head of CNPC, China's top energy group, on Monday admitted his guilt and asked for leniency at the opening of his trial on charges of bribery and abuse of power, the latest in a string of top officials caught in an anti-graft campaign. Scores of senior figures in the ruling Communist Party, the military and state-owned enterprises have...

  • BEIJING, April 13- The trial of the former head of CNPC, China's top energy group, began on Monday, with charges of bribery, abuse of power and other corrupt practices making him the latest in a string of top officials hauled into court by an anti-graft campaign. Scores of senior figures in the ruling Communist Party, the military and state-owned enterprises have...

  • BRASILIA, April 9- State-run oil company Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from off-shore deposits, Brazil's President Dilma Rousseff said on Thursday. The indictment of former senior executives of Petroleo Brasileiro SA and the investigation of dozens of political allies of...

  • NEW YORK, April 2- A Boeing Co procurement official is among seven people who have pleaded guilty in a kickback scheme that involved giving confidential bidding information to suppliers to the aerospace company's satellite division, prosecutors said on Thursday. The Boeing official, Mark Allen of Boeing's Space and Intelligence Systems unit in El Segundo,...

  • NEW YORK, March 27- Two former executives of a defunct Wall Street broker-dealer were sentenced to prison on Friday for participating in a scheme to pay $5 million in bribes to an official at a Venezuelan state economic development bank in exchange for business. Benito Chinea, the former chief executive officer of Direct Access Partners LLC, and Joseph...

  • RIO DE JANEIRO, March 26- The former chief executive officer of Petroleo Brasileiro SA, Maria das Graças Foster, on Monday said she was ashamed of a corruption scandal at the state-run oil company but denied any knowledge of alleged widespread bribery. Foster, who resigned her post on Feb. 4, told a congressional committee in Brasilia that the company cannot be...

  • WASHINGTON, March 23- A former executive at Bechtel Corp was sentenced to 3-1/ 2 years in prison on Monday for accepting $5.2 million in kickbacks for state-run power contracts in Egypt. Asem Elgawhary, who lives in Maryland but was a general manager at a joint venture Bechtel ran with Egypt's state-owned electricity company, pleaded guilty in early December to...