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|Company: ||Panalpina Group |
|Charges: ||Bribing customs officials |
|Penalty: || |
The Switzerland-based Panalpina Group is a leading provider of intercontinental air and ocean freight forwarding and logistics services and supply chain management solutions. The company has 500 branches in more than 80 countries.
On November 4, 2010, Panalpina’s U.S. subsidiary was charged with paying bribes to customs officials around the world on behalf of its customers. From 2002 to 2007, the company bribed customs officials in Nigeria, Angola, Brazil, Russia and Kazakhstan in order to facilitate the importation of their customers’ goods into those countries. The bribes were authorized by Panalpina's customers and then inaccurately described in invoices as "local processing," "special intervention" or "special handling" fees.
Panalpina agreed to an injunction and paid disgorgement of $11.3 million, according to the SEC. The company also agreed to pay a criminal fine of $70.56 million.
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