The SEC brought a significant FCPA action yesterday, charging oil and gas company Total S.A. with paying $60 million in bribes to intermediaries of an Iranian government official. The Iranian official then allegedly exercised his influence to help Total obtain contracts to develop oil and gas fields in Iran that resulted in more than $150 million in profits for the company. The SEC announced that Total had agreed to settle the case, along with a parallel criminal matter, by paying more than $398 million.
