Chevron Agrees to Pay $30 Million to Settle Oil-for-Food Charges

On November 14, 2007, the Chevron corporation and its subsidiaries agreed to pay $30 million to resolve criminal and civil regulatory liabilities relating to Chevron’s procurement of Iraqi oil under the United Nations Oil-for-Food Program. Chevron admitted it obtained Iraqi oil under the Program from third parties that paid secret, illegal surcharges to the former government of Iraq, in violation of U.S. wire fraud statues and administrative regulations that prohibited transactions with the former Government of Iraq...[more]