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U.S. v. Technip S.A.

 
:
Technip S.A.
:
DOJ Criminal
:
June 28, 2010
:
U.S. v. Technip S.A.
:
U.S. v. Technip S.A., No. 10-cr-439 (S.D. Tex. 2010)
:
This is the second of the TSKJ partners to be charged. Use of correspondent bank to obtain jurisdiction; French monitor appointed.
:
Nigeria
:
1994; 1995; 1996; 1997; 1998; 1999; 2000; 2001; 2002; 2003; 2004
:
Officials of Nigeria's executive branch; Officials of the government-owned company responsible for developing and regulating Nigeria's oil and gas industry (Nigerian National Petroleum Company); Officials of government-controlled company formed to develop the Bonny Island Project (Nigeria LNG Limited)
:
Technip participated in a joint venture to obtain and perform EPC contracts to build and expand the Bonny Island Project for Nigeria LNG Limited, which is owned in part by the Nigerian National Petroleum Corporation. The joint venture was awarded four EPC contracts for the Bonny Island Project between 1995 and 2004. From August 1994 until June 2004, Technip and its partners in the joint venture authorized, promised, and paid bribes to Nigerian government officials, including officials in the executive branch, employees of the government-owned Nigerian National Petroleum Corporation, and employees of government-controlled Nigeria LNG Limited, to win and retain the EPC contracts to build the Bonny Island Project. To conceal the bribes, the joint venture entered into sham consulting or services agreements with intermediaries and held “cultural meetings” where the joint venture partners met with their agents to plan how to pay the bribes. The joint venture used U.K. and Japanese agents to transfer approximately $182 million to Nigerian officials during the relevant time period.
On June 28, 2010, Technip entered into a deferred prosecution agreement with the DOJ in which it agreed to pay a $240 million penalty and to continue to cooperate with ongoing investigations. Technip also agreed to engage a corporate compliance monitor. In exchange, the DOJ agreed to defer prosecution of the two criminal counts that it brought against Technip, conspiracy to violate the FCPA and violating the FCPA’s anti-bribery provisions. If Technip complies with the terms of the deferred prosecution agreement, the DOJ will drop the charges altogether after two years. In a related civil case brought by the SEC, Technip agreed to pay $98 million in disgorgement of profits.
:
Anti-bribery (Issuer), Conspiracy - Anti-Bribery
:
Compliance Monitor, Deferred-prosecution Agreement, Fine
:
Monetary penalty of $240 million.
:
240,000,000
:
0
:
Base Fine: 199 million (value of the benefit received). Total Culpability Score: 8 (Base Culpability Score of 5 plus Size of Organization and Participation of High-Level Individuals of 5 minus Cooperation of 2). Fine Range: $318.4 million - $636.8 million.
:
Issuer
:
Foreign
:
Contract Procurement/Retention
:
6,000,000
:
Cash, Wire/check
:
Joint Venture, Sales Agent/Consultant
:
182,000,000
:
Japan, Monaco, Nigeria, Switzerland
:
Japan, Monaco, Nigeria, Switzerland, United States
:

:
No
:
France, Nigeria, Switzerland, United Kingdom