September 29, 2023

North Carolina-based global specialty chemical manufacturing company Albemarle Corporation has agreed to pay over $218 million in penalties and forfeiture to the DOJ, $103.6 million in disgorgement and prejudgment interest to the SEC, and enter into a three-year non-prosecution agreement to settle charges of violating the anti-bribery, recordkeeping, and internal accounting controls provision of the Foreign Corrupt Practices Act (FCPA).  Albemarle admitted to using third-party intermediaries to pay bribes from about 2009 to 2017 in order to obtain and retain business with state-owned oil refineries in Vietnam, Indonesia, and India.  As a result, the company obtained profits of about $98.5 million.  DOJ; SEC

Tagged in: Bribery and Bid-Rigging, Criminal Proceedings, FCPA,