Wednesday, July 28, 2010

GE agrees to pay $23 million for bribes in UN Iraq oil for food program, 4 charges from healthcare unit

"General Electric has agreed to pay $23.5m to settle allegations from US regulators that its subsidiaries bribed Iraqi officials to win contracts under the United Nations Oil for Food Programme between 2000 and 2003.

In the four contracts secured by GE Healthcare, company officials declined to make cash payments to Iraqi officials but allowed their agent to offer equipment and services instead.


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