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US manufacturer Honeywell pays $200 million to settle bribery allegations | Corruption News


There are parallel investigations into the bribes Honeywell paid between 2010 and 2014 to obtain business from Brazil’s Petrobras.

US-based manufacturer Honeywell International Inc said it had agreed to pay about $200 million to settle criminal and civil corruption investigations in the United States and Brazil.

The U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) on Monday announced the resolution to parallel investigations into bribes Honeywell paid between 2010 and 2014. to a senior official at Brazilian state oil company Petrobras to secure business.

The SEC charges also relate to payments that Honeywell’s Belgian subsidiary made to an Algerian government official in 2011. These bribes involved the oil consulting firm Unaoil based in Monaco, the company was previously accused by global authorities of a 17-year scheme to bribe officials for nine years. Nation.

Honeywell President and CEO Darius Adamczyk said the company was “delighted” to have resolved the issue behind the incident, noting that it had received full co-operation credit.

About $160 million of the total amount Honeywell said it will pay will be used to pay US civil and criminal penalties.

Late Monday, the Brazilian government confirmed Honeywell’s claims by saying that the company would pay about 638 million reais ($120 million) to settle the case, with about 70% going to Petrobras.

The Justice Department said US prosecutors had agreed to postpone prosecution of the company for three years in exchange for a criminal penalty of about $79 million and promised to continue to cooperate in any further investigations. among other things, the Justice Department said.

This case exemplifies corporate misconduct on a global level,” said US Attorney Alamdar S Hamdani for the Southern District of Texas.

Honeywell has agreed to pay another $81 million civil penalty to settle the SEC’s allegations, although nearly half is expected to be offset by payments to Brazilian authorities, the SEC said. know.

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