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Lessons from Record Penalty Under Federal Anti-Corruption Law

22 June 2007
Mayer Brown Article
In yet another record-setting settlement in the Foreign Corrupt Practices Act ("FCPA") area, the Securities and Exchange Commission ("SEC" or the "Commission") and the Department of Justice ("Justice Department") announced, April 26, 2007, that Baker Hughes Inc. ("BHI") and Baker Hughes Services International, Inc. ("BHSI"), a wholly-owned subsidiary of BHI (collectively "Baker Hughes"), have agreed to pay $11 million in criminal penalties, $23 million in civil disgorgement and prejudgment interest, and $10 million for violating a 2001 Commission cease-and-desist order prohibiting BHI from future violations of the FCPA.
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