Legal News

Total to Pay $398 Million for Corrupt Practices
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

French energy company Total is to pay $398 to settle charges brought against them by the Securities Exchange Commission and Department of Justice, two American organizations, and also faces fresh charges from France, as of today. They were charged for violating the Foreign Corrupt Practices Act, or, more specifically, for bribing an Iranian official with $60 million to gain access to some of the best Iranian oil and gas fields for development. The SEC said that they earned an estimated $150 million from the gambit.

“Total attempted to cover up the true nature of the illegal payments by entering into sham consulting agreements with intermediaries of the Iranian official and mischaracterizing the bribes in its books and records as legitimate ‘business development expenses’ related to the consulting agreements,” said the SEC, as Breaking Energy reported.

  
What
Where


The bribery took place in the 1990s, and the US investigation was launched in 2003.

“Today we announce the first coordinated action by French and US law enforcement in a major foreign bribery case,” US Acting Assistant Attorney General Mythili Raman said in an email, quoted by Bloomberg on Wednesday. “Our two countries are working more closely today than ever before to combat corporate corruption, and Total, which bought business through bribes, now faces the criminal consequences across two continents.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

RELEVANT JOBS

Paralegal

USA-MS-Jackson

We are seeking an experienced personal injury Paralegal to become a part of our team! You will ...

Apply now

Employment Advocate

USA-CA-Pasadena

Legal Authority is at the forefront of the job placement industry. We are looking for an experi...

Apply now

Paralegal / Legal Assistant

USA-IN-Batesville

Salary $12 - $15 an hour Job Type Full-time Qualifications Criminal bac...

Apply now

Litigation Legal Secretary

USA-TX-Amarillo

Full Job Description Downtown law firm has an opening for a litigation legal secretary with a min...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Real Estate Closings and Matrimonial Law Associate Attorney

USA-NY-Garden City

Garden City office of our client seeks associate attorney with 5+ years of experience in real estate...

Apply Now

Family Law Attorney

USA-AR-North Little Rock

North Little Rock office of our client seeks lawyer with family law experience.

Apply Now

Litigation Associate Attorney

USA-WA-Seattle

Seattle office of a BCG Attorney Search Top Ranked Law Firm seeks litigation associate attorney with...

Apply Now

SEARCH IN ARCHIVE

To Top