General Electric has agreed to pay $23.5m to settle allegations from US regulators that its subsidiaries bribed Iraqi officials to win contracts under the United Nations Oil for Food Programme between 2000 and 2003.No word yet from the MSNBC-Obama cheerleaders on this one. We'll bet Eric Holder will not indict anyone on this.
The settlement with the Securities and Exchange Commission is the second in as many years for GE. Last year, the company agreed to pay $50m to resolve charges of accounting fraud relating to hedging activities in 2002 and 2003.
Tuesday, July 27, 2010
GE pays $23m after Iraq probe
The Financial Times reports:
