TechnipFMC Plc and U.S.-Based Subsidiary Agree to Pay Over $296 Million in Global Penalties to

[TexasTowelie]

TechnipFMC Plc and U.S.-Based Subsidiary Agree to Pay Over $296 Million in Global Penalties to Resolve Foreign Bribery Case


TechnipFMC plc (TFMC), a publicly traded company in the United States and a global provider of oil and gas services, and its wholly-owned U.S. subsidiary, Technip USA, Inc. (Technip USA), have agreed to pay a combined total criminal fine of more than $296 million to resolve foreign bribery charges with authorities in the United States and Brazil. TFMC is the product of a 2017 merger between two predecessor companies, Technip S.A. (Technip) and FMC Technologies, Inc. (FMC). The charges arose out of two independent bribery schemes: a scheme by Technip to pay bribes to Brazilian officials and a scheme by FMC to pay bribes to officials in Iraq. Technip USA and Technip’s former consultant pleaded guilty today in connection with the resolution. In 2010, Technip entered into a $240 million resolution with the Department over bribes paid in Nigeria.

Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, U.S. Attorney Richard P. Donoghue of the Eastern District of New York, Assistant Director Robert Johnson of the FBI’s Criminal Investigative Divison and Acting Special Agent in Charge Charles A. Dayoub of the FBI’s Washington Field Office Criminal Division made the announcement.

“Today’s resolution takes aim at the scourge of bribery, but does so in a fair and evenhanded way,” said Assistant Attorney General Benczkowski. “It is a testament to the strength and effectiveness of international coordination in the fight against corruption, but also an acknowledgement that the Department is fully committed to reaching fair and just resolutions with companies that fully cooperate and remediate.”

“Today’s resolutions are the result of a continuing multinational effort to hold accountable corporations and individuals who seek to win business through corrupt payments to foreign officials, and who attempt to use the U.S. financial system to carry out those crimes,” said U.S. Attorney Donoghue. “We will continue to prioritize identifying and bringing to justice those who would corrupt the legitimate functions of government for personal financial gain.”

Read more: https://www.justice.gov/opa/pr/technipfmc-plc-and-us-based-subsidiary-agree-pay-over-296-million-global-penalties-resolve

[Stuart G]

1. k and r..