GE agrees to pay $23 million for bribes in UN Iraq oil for food program, 4 charges from healthcare unit

• 7/27, "GE pays 23M after Iraq probe," Financial Times, J. Lemer
  

"General Electric has agreed to pay $23.5m to settle allegations from US regulators that its subsidiaries bribed Iraqi officials to win contracts under the United Nations Oil for Food Programme between 2000 and 2003.

• The settlement with the Securities and Exchange Commission is the second in as many years for GE. Last year, the company agreed to pay $50m to resolve charges of accounting fraud relating to hedging activities in 2002 and 2003....

In the four contracts secured by GE Healthcare, company officials declined to make cash payments to Iraqi officials but allowed their agent to offer equipment and services instead.

• GE said it had received assurances from the US department of justice that it would not be subject to any criminal enforcement proceedings."...via Drudge Report