Oil Services Companies and a Freight Forwarding Company Agree to Resolve Foreign Bribery Investigations and to Pay More Than $156 Million in Criminal Penalties (Panalpina)

Panalpina pleads guilty on engaging in a scheme to pay bribes to numerous foreign officials on behalf of many of its customers in the oil and gas industry between 2002 and 2007. It paid thousands of bribes totaling at least $27 million to foreign officials in at least seven countries, including Angola, Azerbaijan, Brazil, Kazakhstan, Nigeria, Russia and Turkmenistan. Criminal penalty – $70.56 million.