Violation Tracker Individual Record

Company: 
Volvo
Current Parent Company: 
Volvo
Penalty: 
$12,600,000
Year: 
2008
Date: 
March 20, 2008
Offense Group: 
competition-related offenses
Primary Offense: 
Foreign Corrupt Practices Act
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 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.