Honeywell Agrees to Settle Bribery Charges For $200 Million

 U.S.-based manufacturer Honeywell International Inc (HON.O) on Monday said it has agreed to pay about $200 million to settle criminal and civil corruption investigations in the United States and Brazil.

The U.S. Justice Department and U.S. Securities and Exchange Commission (SEC) each announced the resolution of parallel investigations relating to bribes that Honeywell paid between 2010 and 2014 to a high-ranking official at Brazil’s state-owned oil company Petrobras (PETR4.SA) to secure business.

The SEC charges also relate to payments Honeywell’s Belgian subsidiary made to an Algerian government official in 2011. Those bribes involved Monaco-based oil consultancy Unaoil, which has previously been charged by global authorities over a 17-year scheme to pay bribes to officials in nine countries.

Read the source article at reuters.com