Honeywell Strikes $203 Million in Settlements Over Brazil, Algeria Bribery

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Honeywell will pay nearly $203 million in deals with U.S. and Brazilian authorities concerning bribes paid to public officials in Algeria and at Brazil's state-owned oil company

To carry out the bribery scheme in Brazil, UOP retained a sales agent to funnel a $4 million bribe to the unnamed official at Petróleo Brasileiro, prosecutors said. UOP ultimately earned $105.5 million in profit from the contract, which it won in 2010, according to prosecutors. The misconduct occurred between 2010 and 2014, they said.

The bribery in Algeria was tied to Honeywell’s business with Unaoil Group, a Monaco-based oil-services firm whose relationships with clients in the energy sector came under scrutiny following an investigative report in the Australian media in 2016. In Algeria, Honeywell’s Belgian subsidiary used Unaoil in 2011 to pay back a consultant for bribes that helped resolve a dispute over the schedule for upgrades the company was completing on a refinery in Oran, the SEC said.

UOP’s settlement with the Justice Department comes in the form of a three-year deferred prosecution agreement, under which prosecutors agreed to drop the criminal charges against the subsidiary if Honeywell complies with the terms of the deal. The company said it wouldn’t be required to have an independent monitor to oversee its compliance with the agreement.

U.S. prosecutors in their settlement credited UOP for its cooperation and said Honeywell had taken a number of steps to prevent future bribery misconduct, including by making improvements to its compliance program, reducing its reliance on sales agents, and disciplining or firing employees involved in the Brazil scheme.Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.

Appeared in the December 20, 2022, print edition as 'Honeywell Settles Bribery Cases for $203 Million.'

Source: News Formal (newsformal.com)

 

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“The misconduct occurred between 2010 and 2014”. Note: that was under LulaOficial gov.

they stopped the bribes too soon. 🤣

Blackrock owned, imagine the shock

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Honeywell to pay about $200 mln to settle U.S., Brazilian bribery chargesU.S.-based manufacturer Honeywell International Inc on Monday said it has agreed to pay about $200 million to settle criminal and civil corruption investigations in the United States and Brazil. Wat MohammadMehdiKarami is in grave danger and at risk of imminent execution. His political sponsor has warned us about this publicly. Please be his voice. We should NOT let this happen. IranRevolution Iranian MohammadMehdiKarami , 22 y/o martial artist has been sentenced to death by the Islamic Regime in a sham trial and without the presence of a chosen lawyer. Be his voice before they repeat Navid afkari, Mohsen Shekari and MajidrezaRahnavard’s scenario. StopExecutionsInIran
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