Frank’s International Will Pay $8 Million to Settle SEC Charges over Angola Bribes

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Friday, May 5, 2023
Bruce Zagaris

On April 26, 2023, Frank’s  International, which is now Expro Group Holdings N.V., entered into  a cease-and-desist order and agreed to pay disgorgement of $4,176,858, prejudgment interest of $821,863, and a civil money penalty in the amount of $3 million to the Securities and Exchange Commission in settlement of the administrative charges against it.  The matter concerns violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign corrupt Practices Act (“FCPA”) by Frank’s.[1]

[1]    In the Matter of Frank’s International N.V., Securities and Exchange Commission, Administrative Proceeding File No. 3-21397, Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order, Apr. 26, 2023.