Settlements

ST-156
Flowerserve bv te Etten-Leur (Flowserve Corporation)
Flowserve Corporation
Netherlands
Rijksrecherche (Dutch Public Prosecution Service)
Iraq (UN Oil-for-Food)
2008
07/16
United States
Legal Person
Criminal
Unspecified
Criminal Fine, Criminal Confiscation
$408,875.00
$121,569
$287,306
Unspecified
Art.16, Art.23, Art.26
Art. 1, Art. 2, Art. 7, Art. 8
Sanctions legislation by paying kickbacks when implementing UN Oil-for-Food Programme
Yes
According to the Netherlands Phase 2 Report of the OECD Anti-Bribery Working Group (December 17, 2008): "As of October 2008, no foreign bribery cases had been brought before the Dutch courts. Nevertheless, the prosecution authorities have concluded out-of-court transactions with seven companies for paying kickbacks in the context of the Oil-for-Food Programme in Iraq, although the offence charged was the violation of sanctions legislation and not the foreign bribery offence." (para 2); " the Prosecution Department reports that it has concluded financial transactions (out of court settlements) with 7 companies for violating sanction legislation by paying kickbacks when implementing the Oil for Food Programme. Criminal gains have also been confiscated. In July 2008 a press release has been issued about these settlements. Together with the names of the companies (Alfasan International B.V., N.V. Organon, Flowserve B.V. , OPW Fluid Transfer Group Europe B.V., Prodetra B.V. Solvochem Holland B.V., Stet Holland B.V.) the settlements have been made public. For the following Oil-for-food transactions out-of-court settlements have been reached: 1. Alfasan International BV Woerden, fine: € 31.800,-- and confiscation € 10.183,55 2. NV Organon Oss, fine: € 381.602 3. Flowerserve bv te Etten-Leur, fine: € 76.274 and confiscation € 180.260 4. OPW Fluid Transfer Group Europe BV, Nieuw Vennep, fine € 57.204 and confiscation € 24.600 5. Prodetra bv, Wadinxveen, fine: 64.751 and confiscation € 34.485,95 6. Solvochem Holland bv, Rotterdam, fine € 136.000 and confiscation € 144.592 7. Stet Holland bv,Emmeloord, fine € 119.712 and confiscation € 54.458." (Source: Ibid., at 14.)