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SEC v. Universal Corporation

 
:
Universal Corporation - Universal Corporation
:
SEC Civil
:
August 6, 2010
:
SEC v. Universal Corporation
:
SEC v. Universal Corp., No. 10-cv-1318 (D.D.C. Aug. 6, 2010).
:
Malawi, Mozambique, Thailand
:
2000; 2001; 2002; 2003; 2004; 2005; 2006; 2007
:
Officials of the Thailand Tobacco Monopoly (“TTM”); high-ranking official of the Malawian government; high-ranking officials of the Mozambican government.    
:
Universal Corporation, a holding company incorporated in Virginia, operates primarily through its wholly-owned subsidiary, Universal Leaf Tobacco Company, Incorporated (“Universal Leaf”) and Universal Leaf’s domestic and international subsidiaries (collectively, “Universal”).  Universal purchases, processes, and sells leaf tobacco worldwide.  According to the complaint filed by the SEC, between 2000 and 2004, Universal paid approximately $800,000 to government officials in Thailand, more than $165,000 to government officials in Mozambique, and 850,000 to high ranking Malawian government officials.  The SEC alleges that employees at multiple levels within Universal, including management at headquarters and employees at wholly- and majority-owned and controlled foreign subsidiaries were responsible for the improper payments.  The SEC alleges that Universal made these payments to secure, amongst other things, an exclusive right to purchase tobacco from regional growers and to procure legislation beneficial to the company’s business. 
:
Books and records (Issuer), Conspiracy - Anti-Bribery, Internal controls (Issuer)
:
Compliance Monitor, Disgorgement, Injunction/Cease and desist
:
Disgorgement of $3,125,905 plus prejudgment interest of $1,455,372.
:
4,581,277
:
0
:
Issuer
:
U.S.
:
Contract Procurement/Retention
:
11,500,000
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Cash, Travel, Wire/check
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Direct, Sales Agent/Consultant, Subsidiary Company
:
1,800,000
:
Malawi, Thailand
:
Hong Kong, Thailand
:

:
No