The French energy giant company agreed to pay $400 million acknowledging it payed huge bribes to secure drilling rights in Iran. The CEO is most likely going to face a criminal trial in France.
Total accepted the allegations of the Department of Justice as “true and accurate” according to the agreement, but also said it “reaffirms that it has not committed any offense under French law”. In a possible trial in France, Total officials intend to argue that their actions were in a complete consent with legal rights of the country.
In past years companies like Siemens, Halliburton and KBR, and UKs B.A.E. experienced the enforcement of Foreign Corrupt Practices Act by US officials.
One month ago Ralph Lauren was ensnared in a similar corrupt practices. The clothing label had to pay around $1.6 million penalty after finding its subsidiary in Argentina repeatedly bribed customs officials according to federal authorities. The company came up with a declaration that Ralph Lauren distinguishes itself from those practices.
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