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Thursday, August 1, 2013
Volume:
29
Issue:
8
Abstract:
On May 29, 2013, U.S. and French authorities announced criminal actions against Total S.A., a French oil and gas company that trades on the New York Stock Exchange. The U.S. Department of Justice (DOJ) announced that Total has agreed to pay a $245.2 million monetary penalty to resolve charges related to violations of the Foreign Corrupt Practices Act (FCPA) in relation to illegal payments made through third parties to a government official in Iran to obtain valuable oil and gas concessions.[1]