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Harry Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Richard L. Cassin Editor at Large

Elizabeth K. Spahn Editor Emeritus 

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


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Monday
Jan202014

Norway police indict four Yara execs, including top lawyer

Norwegian police Friday indicted four former executives of fertilizer maker Yara International, including the former chief executive and top legal counsel. They're charged with paying $8 million in bribes in Libya and India.

The defendants bribed Muammar Gaddafi's oil minister and relatives of an official in India's Ministry of Chemicals and Fertilizers, police said.

The corruption charges against the four defendants carry a maximum prison term of 10 years.

Norwegian police indicted former CEO Thorleif Enger, former chief legal officer Kendrick Wallace, former head of upstream activities Tor Holba, and former deputy CEO and current Potash Corp director Daniel Clauw.

Yara was fined $48 million by Norwegian authorities last week for paying $12 million in bribes between 2004 and 2009.

Norway's government owns 36.2 percent of Yara, among the world's biggest fertilizer firms.

The company admitted bribing senior government officials in India and Libya and making corrupt payments to suppliers in Russia.

Enger and Holba denied all charges. Wallace and Clauw haven't commented. 

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Richard L. Cassin is the publisher and editor of the FCPA Blog. He can be contacted here.