US firm, the Albemarle Corporation, has agreed to pay US$218 million to settle claims that it paid bribes to secure tenders in Vietnam, Indonesia, and India, The Investor is reporting. In Vietnam, the chemical company paid above-market rates to a sales agent ‘who requested increased commissions to pay bribes to Vietnam officials and to structure tender requirements to favour Albemarle.’ The investigation was carried out under the US Foreign Corrupt Practices Act.
The Justice Department’s press release: Albemarle to Pay Over $218M to Resolve Foreign Corrupt Practices Act Investigation