The corruption cases databases are a product of the staff of the International Bank for Reconstruction and Development / The World Bank. It is intended for general information purposes only. The findings, interpretations, and conclusions expressed in the Database do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Neither the World Bank Group nor its officers or employees shall be liable for any losses that may result directly or indirectly from the use of or reliance upon such information.
Internal controls violations, Falsification of books and records
No admission or denial of allegations
According to the US Securities and Exchange Commission Litigation Release, on October 3, 2007, the agency announced that it had filed a settled complaint against Chiquita Brands, alleging that the company had violated the books and records and internal controls provisions of the FCPA as a result of the conduct of its Colombian subsidiary, C.I. Bananos de Exportaction, S.A (Banadex). The SEC had alleged that Banadex's chief administrative officer authorized the company's customs broker, as well as Banadex's security officer and controller, to make a corrupt payment of $30,000 to local customs officials to secure the renewal of the port facility's license. The SEC also alleged that Banadex's books and records incorrectly identified the two installment payments, made in 1996 and 1997. Without admitting or denying the Commission's findings, Chiquita consented to the entry of an order that requires Chiquita to cease and desist from violating those provisions. The Commission also filed a settled complaint in federal court seeking entry of a consent order requiring Chiquita to pay a $100,000 civil penalty. Chiquita settled the action without admitting or denying the Commission's allegations. (Source: US Securities and Exchange Commission Litigation Release No. 17169 / October 3, 2001, SEC v. Chiquita Brands International, Inc., Civ. Action No. 1:01CV02079 (D.D.C.) (filed October 3, 2001), "SEC Settles Case against Chiquita Brands International, Inc.")
US Report to the Organisation for Economic Co-operation and Development, "Steps taken to implement and enforce the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions," Information as of May 31, 2011, Chiquita Brands International, Inc. Case, at 128-129, accessed at http://www.oecd.org/dataoecd/18/8/42103833.pdf; US Securities and Exchange Commission, Admin Proceedings File No. 3-10613, In the Matter of Chiquita Brands International, Inc., October 3, 2001, accessed at http://www.sec.gov/litigation/admin/34-44902.htm;
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