Violation Tracker Individual Record

Company: 
AB Volvo
Current Parent Company: 
Volvo
Penalty: 
$7,000,000
Year: 
2008
Date: 
March 20, 2008
Offense Group: 
competition-related offenses
Primary Offense: 
Foreign Corrupt Practices Act
Secondary Offense: 
wire fraud
Violation Description: 

AB Volvo agreed to pay a $7 million penalty as part of an agreement with the U.S. Department of Justice regarding charges brought in connection with an ongoing investigation related to the United Nations Oil for Food program. The agreement came as the Justice Department filed criminal informations against AB Volvo subsidiaries Renault Trucks SAS and Volvo Construction Equipment AB charging that they engaged in separate conspiracies to commit wire fraud and to violate the books and records provisions of the Foreign Corrupt Practices Act.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Criminal Division
Civil or Criminal Case: 
criminal
Prosecution Agreement: 
deferred prosecution agreement
HQ Country of Parent: 
Sweden
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.