FCPA Advisor, July 2010
GE Agrees to Pay $23.4 Million to SEC to Settle
Article posted on 05 Feb 2012
Summary: On July 27, 2010, the General Electric Company agreed to disgorge $18,397,949 in allegedly wrongful profits, plus $4,080,665 in pre-judgment interest and pay a civil penalty in the amount of $1 million, a total of over $23.4 million, to the Securities and Exchange Commission for alleged violations of the FCPA by its subsidiaries in connection with the United Nations Oil for Food Program. This article from Cadwalader outlines the issues.
Topics: Corruption FCPA
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