Safran Avoids U.S. Prosecution But Must Pay $17M For China Work

摘要

Employees of Monogram Systems, now a Safran subsidiary, committed bribery in China that violated the U.S. Foreign Corrupt Practices Act and the European OEM parent will have to disgorge $17.2 million to settle the issue, U.S. prosecutors said Dec. 21. But according to a so-called declination letter to Safran dated Dec. 21, released by the U.S. Justice Department, officials decided not to prosecute Safran based on several factors. Those include that the bribery happened in 1999-2015, before Safran owned Monogram, as well as Safran’s “timely” disclosure and “full and proactive cooperation” in the investigation, which Safran self-reported when it learned what happened after closing the acquisition.