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Violation Tracker Individual Record

Company: Volvo
Current Parent Company: Volvo
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $12,600,000
Year: 2008
Date: March 20, 2008
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Violation Description: Volvo agreed to settle allegations that from 1999 through 2003 two of its subsidiaries and their agents and distributors made approximately $6 million in kickback payments and authorized additional payments of about $2 in connection with their sales of humanitarian goods to Iraq under the United Nations Oil for Food Program.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Sweden
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: motor vehicles
Specific Industry of Current Parent: motor vehicles
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.