The Securities and Exchange Commission said Wednesday that Chevron had agreed to the settlement under the Foreign Corrupt Practices Act without admitting or denying the charges. But the United States attorney for the Southern District of New York said Chevron could still be prosecuted for criminal tax violations.
Of the $25 million, Chevron will forfeit $20 million under an agreement with the United States attorney’s office in New York and pay $5 million under an agreement with the district attorney’s office in Manhattan NYT
The San Ramon, Calif., oil giant, without admitting or denying wrongdoing, also separately settled civil charges with the Securities and Exchange Commission on Wednesday.
The pact requires Chevron to implement enhanced compliance procedures designed to prevent future violations and to confirm that culpable employees are no longer working with Chevron. Dow Jones Newswire
Same Players. Different Scandal.