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BRIBERY * USA - Panalpina in Talks to Settle Bribery Charges
Company tells U.S. Justice Department of compliance programs
Washington,DC,USA -The Journal of Commerce Online, by Thomas L. Gallagher -Dec 9, 2009: -- Global forwarder Panalpina is in discussions with the U.S. Justice Department to settle allegations that it violated American anti-bribery laws in Nigeria, the company said Wednesday. Panalpina began the talks last week and said the process may take several months... In July 2007, the Justice Department’s criminal fraud unit made known its concerns about alleged payments to Nigerian customs agents made by Panalpina. The Securities and Exchange Commission also launched a related civil investigation... The company lost millions in profits and spent another $15 million-plus on legal and consulting fees... In December 2008, Nigeria-based investing group Worldwide Premier Logistics Solution took over Panalpina’s operations in the country...
Labels: briberies
posted by Unknown @ 8:37 PM
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