Settlements

ST-128
Con-Way, Inc.
Con-Way, Inc.
United States
Securities and Exchange Commission
Philippines
2008
08/27
Unknown
Legal Person
Civil
Consent to Cease-and-Desist Order
Civil Penalty
$300,000.00
$0
$0
$300,000
$0
Art.16, Art.26
Art. 1, Art. 2, Art. 8
Internal controls violations, Falsification of books and records
No admission or denial of allegations
No (Customs)
According to US Department of Justice Report to Congress, Appendix C "Summaries of Foreign Corrupt Practices Act Enforcement Actions by the United States, January 1, 1998 - September 30, 2010," Con-Way Inc. at 58-59: Time period of misconduct in Philippines, 2000-2003; SEC complaint alleged that Con-Way's Philippine subsidiary, Emery Transnational, (1) made approximately $244,000 in improper payments to foreign officials of the Philippines Bureau of Customs and the Philippine Economic Zone Area, that the payments were made to induce these foreign officials to violate customs regulations, settle customs disputes, and reduce or not enforce otherwise legitimate fines; (2) $173,000 in improper payments to officials at fourteen state-owned airlines that conducted business in the Philippines, to induce airline officials to improperly reserve space for Emery Transnational on airplanes, to fasely under-weigh shipments, and to improperly consolidate multiple shipments into a single shipment, resulting in lower shipping charges. Resulting civil/administrative enforcement actions: SEC v. Con-Way Inc., Case No. 1:08-cv-01478-EGS (D.D.C.), Complaint filed August 27, 2008; In the Matter of Con-Way Inc. (August 27, 2008). According to the US Securities and Exchange Commission Litigation Release, "Without admitting or denying the allegations in the Commission?s complaint, Con-way agreed to pay a $300,000 civil penalty." (Source: US Securities and Exchange Commission, Litigation Release No. 20690 / August 27, 2008, Securities and Exchange Commission v. Con-way Inc., Civil Action No. 1:08-CV-01478 (D.D.C.) (EGS), "SEC Files Settled Enforcement Action Charging Con-way Inc. with Violations of the Foreign Corrupt Practices Act.")