Government Contracts
Jul. 29, 2010
GE Fined on Foreign Practice Violations
General Electric Co. and two subsidiaries violated the Foreign Corrupt Practices Act by paying kickbacks to the Iraqi government, the SEC alleges.
Daily Journal Staff Writer
General Electric Co. and two subsidiaries violated provisions of the Foreign Corrupt Practices Act, according to a complaint filed Tuesday by the Securities and Exchange Commission.
The SEC contends the two GE acquisitions, GE Healthcare Ltd., formerly Amersham, and GE Ionics Inc., formerly Ionics, profited $1.55 million from cash kickback payments to the Iraqi government between 2...
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