Statoil FCPA bribery settlement over Iranian official
Company: Equinor ASA
Summary
Equinor, then named Statoil ASA, resolved U.S. enforcement proceedings concerning payments to an Iranian government official. The SEC found that Statoil paid bribes through a consulting arrangement to obtain influence in securing oil and gas business in Iran and violated anti-bribery, books-and-records and internal-controls provisions. Statoil agreed to USD 10.5 million disgorgement and a USD 10.5 million criminal penalty under a deferred prosecution agreement; the DOJ later dismissed the charges after Statoil satisfied the agreement. Sources: https://www.sec.gov/news/press/2006/2006-174.htm and https://www.justice.gov/archives/opa/pr/statoil-asa-satisfies-obligations-under-deferred-prosecution-agreement-and-foreign-bribery