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Journalism of Courage
Six US companies have agreed to pay a criminal penalty of more than USD 156 million on charges of paying bribes to foreign countries,including India.
According to documents filed at a district court in Texas Pride International Inc and Pride Forasol SAS (both known as ‘Pride’),admitted that it paid a total of approximately USD 800,000 in bribes to government officials in Venezuela,India and Mexico.
Bribes were paid to extend drilling contracts for three rigs operating offshore in Venezuela,to secure favourable administrative judicial decision relating to a customs dispute for a rig imported into India and to avoid the payment of customs duties and penalties relating to a rig and equipment operating in Mexico,the documents revealed.
During the course of the investigation,Pride provided information and substantially assisted in the investigation of Panalpina,the US Justice Department said.
Pride International has agreed to pay approximately USD 23.5 million in disgorgement of profits and prejudgment interest,it said.
Other companies involved in foreign bribery included Panalpina Inc,Royal Dutch Shell and a US subsidiary,Shell International Exploration and Production Inc,Transocean Tidewater Inc,Noble Corporation and GlobalSantaFe Corporation.
Besides India,bribes were paid in countries including Angola,Azerbaijan,Brazil,Kazakhstan,Nigeria,Russia,Turkmenistan and Venezuela.
