A Florida asphalt company pleaded guilty and agreed to pay $16.6 million to resolve charges stemming from a foreign bribery probe spanning three South American countries.
Sargeant Marine Inc., which specializes in selling and transporting asphalt, pleaded guilty to conspiracy to violate anti-bribery provisions of the Foreign Corrupt Practices Act, the U.S. Justice Department said Tuesday.
The Deerfield Beach, Fla.-based company was alleged to have paid millions of dollars in bribes to government officials in Brazil, Venezuela and Ecuador to win contracts from state-controlled oil companies in those countries, prosecutors said. The illicit payments helped Sargeant Marine and affiliated companies earn profits of about $38 million between about 2010 and 2018, according to the Justice Department.
The original full article can be found at wsj.com
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