Settlements

ST-10
ABB Ltd. (Matter #76) / ABB Vetco Gray UK Ltd.
ABB Ltd. (Matter #76)
United States
Department of Justice
Nigeria
2004
07/06
Unknown
Legal Person
Criminal
Guilty Plea
Criminal Fine
$5,250,000.00
$5,250,000
$0
Art.16, Art.26
Art. 1, Art. 2
Bribery of foreign officials
Bribery of foreign officials
Yes
According to the US Department of Justice Press Release, "The criminal information charges that the two companies [Vetco Gray, Inc. and Vetco Gray UK Ltd.] paid bribes to officials of NAPIMS, a Nigerian government agency that evaluates and approves potential bidders for contract work on oil exploration projects in Nigeria, including bidders seeking subcontracts with foreign oil and gas companies. According to the stipulated statement of facts, the companies paid more than $1 million in exchange for obtaining confidential bid information and favorable recommendations from Nigerian government agencies in connection with seven oil and gas construction contracts in Nigeria from which the companies expected to realize profits of almost $12 million." The companies entered guilty pleas and agreed to each pay $5.25 million in criminal fines. (Source: US Department of Justice Press Release, "ABB Vetco Gray, Inc. and ABB Vetco Gray UK Ltd. Plead Guilty to Foreign Bribery Charges," July 6, 2004.)