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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