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Violation Tracker Individual Record

Company: Albemarle Corporation
Current Parent CompanyAlbemarle
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $196,700,000
Year: 2023
Date: September 29, 2023
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Mega-ScandalForeign Bribery
Violation Description: Albemarle Corporation, a publicly-traded specialty chemicals manufacturing company headquartered in Charlotte, North Carolina, agreed to pay more nearly $200 million to resolve an investigation by the U.S. Department of Justice into violations of the Foreign Corrupt Practices Act (FCPA) stemming from Albemarle's participation in corrupt schemes to pay bribes to government officials in multiple foreign countries. A portion of the penalty was deemed satisfied by the fine Albemarle paid in a parallel SEC action (see separate entry).
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: non-prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: Louisiana
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: chemicals
Specific Industry of Current Parent: chemicals
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.