Saudi Arabia: US valves manufacturer guilty of corruption
Issue 932
- 28 Sep 2012
| 3 minute read
On 24 September, the US Department of Justice (DoJ) announced that Swiss-based Tyco International, a manufacturer of security, fire and protection products, had pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA). Tyco will pay $26m in fines – $13.68m of which is for falsifying books and records in connection with payments by Tyco subsidiaries to government officials abroad.
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