Albemarle Corporation (Albemarle), a specialty chemicals manufacturing company located in Charlotte, North Carolina, agreed to pay more than $218 million to settle FCPA investigations with DOJ and the SEC stemming from bribery payments in Vietnam, Indonesia and India.
Albemarle entered into a three-year non-prosecution agreement (“NPA”) with DOJ and agreed to pay a penalty of approximately $98.2 million and an administrative forfeiture of approximately $98.5 million.
In See more +
Albemarle Corporation (Albemarle), a specialty chemicals manufacturing company located in Charlotte, North Carolina, agreed to pay more than $218 million to settle FCPA investigations with DOJ and the SEC stemming from bribery payments in Vietnam, Indonesia and India.
Albemarle entered into a three-year non-prosecution agreement (“NPA”) with DOJ and agreed to pay a penalty of approximately $98.2 million and an administrative forfeiture of approximately $98.5 million.
In its first FCPA settlement applying its Compensation Incentives and Clawbacks Pilot Program announced in March 2023, DOJ agreed to a $763,453 penalty reduction for bonuses that Albemarle withheld from qualifying employees.
In a parallel proceeding, Albemarle agreed to pay approximately $103.6 million in disgorgement and prejudgment interest. DOJ agreed to credit approximately $81.9 million to the forfeiture payment against disgorgement Albemarle agreed to pay the SEC.
In this Episode, Michael Volkov reviews the Albemarle FCPA settlements with the DOJ and the SEC. See less -
