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Global Logistics Company Panalpina World Transport Indicted in Texas for Foreign Corruption Practices
A global logistics company, Panalpina World Transport, has agreed to pay $156.6 million in fines for violating the Foreign Corruption Practices Act (FCPA). The company, based in Basilea, Switzerland, and its subsidiary, Panalpina Inc., admitted to paying millions of dollars in bribes to foreign officials in at least seven countries.
According to the indictment, Panalpina World Transport and its subsidiary, Panalpina Inc., conspired to violate the FCPA’s anti-bribery provisions and record-keeping provisions. The company also admitted to falsifying records to conceal the bribes.
The indictment alleges that Panalpina World Transport paid over $27 million in bribes to foreign officials between 2002 and 2007. The bribes were paid to officials in Angola, Azerbaijan, Brazil, Kazakhstan, Nigeria, Russia, and Turkmenistan.
Additionally, the company’s clients, including Shell Nigeria Exploration and Production Company Ltd. (SNEPCO), Transocean Inc., and Tidewater Marine International Inc., admitted to approving or condoning the payment of bribes on their behalf in Nigeria and recording the bribes as legitimate business expenses in their books and records.
As part of the settlement, the U.S. Department of Justice filed a criminal information charging Panalpina World Transport with conspiracy to violate and violating the FCPA’s anti-bribery provisions. Panalpina World Transport has agreed to plead guilty to the charges and pay a fine of $70.56 million.
The indictment also charges SNEPCO, a subsidiary of Royal Dutch Shell, with conspiracy to violate the FCPA’s anti-bribery and record-keeping provisions. The company has agreed to pay a fine of $30 million.
Transocean Inc., a subsidiary of Transocean Ltd., was also charged with conspiracy to violate the FCPA’s anti-bribery provisions. The company has agreed to pay a fine of $14 million.
The indictment was filed in the U.S. District Court for the Southern District of Texas on February 27, 2024.
Panalpina World Transport, a global logistics company, has agreed to pay $156.6 million in fines for violating the Foreign Corruption Practices Act.
Key Facts
- State: Federal
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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