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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


FCPA Blog Daily News

« Harris Corp's Carefx China Disclosure | Main | China Corruption Blotter (September 10, 2012) »
Monday
Sep102012

Safran Fined For Nigeria Bribes

French defense and security firm Safran was fined €500,000 last week by a court in Paris for bribing government officials in Nigeria.

Reuters reported that an investigating magistrate 'found that the bribes had helped Safran win a €170 million contract to make more than 70 million identity cards.'

The offenses occurred from 2000 to 2003, the report said.

Earlier, a French court acquitted two of the company's executives in the case.

The French government owns nearly a third of Safran.

The company had €11.7 billion in revenue last year. It employs 60,000 people worldwide.

Safran's ADRs trade on the American OTC under the symbol SAFRY.

The company hasn't disclosed any investigation involving the U.S. DOJ or SEC. Those agencies don't comment on FCPA investigations.

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