Thursday, April 24, 2014   

Germany’s Bilfinger pays US$32m to settle Nigeria graft charges
(12-10 11:39)

A German engineering company has agreed to pay a US$32 million fine as part of an agreement to settle charges it worked with a Texas company to bribe Nigerian officials in order to win a US$387 million pipeline contract.
A US Justice Department statement says Bilfinger SE conspired with Houston-based Willbros Group Inc. and others from late 2003 to 2005 to make more than US$6 million in bribes to Nigerian officials.
Bilfinger was charged with violating the Foreign Corrupt Practices Act.
In court documents filed Monday in Houston federal court, the Mannheim, Germany-based company entered into a deferred prosecution agreement. If the company meets certain conditions within three years, the charges will be dropped.
In May 2008, Willbros agreed to pay more than US$22 million in fines.—AP

   
Other Business breaking news:
Europe sees better government finances in 2013 (04-23 18:34)
Better business activity in Europe: survey (04-23 18:24)
Eurozone deficits improve, debt mounts (04-23 17:10)
China pork firm scales down IPO target (04-23 17:08)
Hang Seng, Shanghai fall at close (04-23 16:47)
China to increase natural gas supply (04-23 16:16)
China Mobile profit down (04-23 15:53)
European markets open flat (04-23 15:40)
Australia sees higher price levels in first quarter (04-23 15:13)
Nikkei rallies at close (04-23 14:16)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.