Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission (SEC) for violating the Foreign Corrupt Practices Act (FCPA)with bribes paid by a Thai subsidiary.
The SEC alleged that a John Deere subsidiary, Wirtgen Thailand, paid bribes to government officials and to a private company in Thailand to win contracts from 2017-20. John Deere settled the charges by agreeing to pay a $4.5 million fine and $5.4 million in disgorgement and prejudgment interest, the SEC announced in a press release Tuesday.
