Honeywell to pay $203M over bribery claims in Brazil, Algeria
Honeywell International agreed to pay $202.7 million to settle charges it paid bribes to obtain contracts with government entities in Brazil and Algeria.
Honeywell UOP, a U.S.-based subsidiary of Honeywell International, paid $4 million in bribes to an executive at Brazil state-owned oil company Petrobras between 2010-14, according to the Department of Justice (DOJ) and Securities and Exchange Commission (SEC). Meanwhile, representatives from Honeywell Belgium paid $75,000 in 2011 to win a bid with the Algerian state-owned oil company Sonatrach, the SEC alleged.
Honeywell—a conglomerate with divisions that include aerospace, energy, healthcare, life sciences, retail, and utilities—was ordered to pay $81 million by the SEC for violating the anti-bribery, books and records, and internal accounting controls provisions of federal securities law, the agency stated in a press release Monday. The company must pay a criminal penalty of approximately $79 million to the DOJ for violating the anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA).