Chilean lithium and fertilizer giant SQM said on Friday it had agreed to pay more than $30 million in penalties to the U.S. Department of Justice and Securities and Exchange Commission to resolve a probe over alleged fake invoices.
It said the DOJ would defer charges relating to internal accounting failures and scrap them after three years if the company agreed to pay $15.5 million and be monitored for two years.
Meanwhile, SQM said it had agreed with the SEC to pay a penalty of $15 million, also over accounting violations.
Authorities had been investigating claims that executives at SQM (NYSE: SQM), one of the world’s biggest producers of lithium and iodine, had from 2008 to 2015 illicitly funneled cash into political campaigns via the issue of fake invoices.
The accusations toppled chief executive, Patricio Contesse, and led SQM to introduce measures to tighten corporate governance, as it seeks to reassure investors that include international resources firms such as Canada’s Potash Corp (NYSE: POT) and China’s Tianqi .
“The SEC has issued a cease and desist order that does not identify any other violations of United States law and in which the SEC notes the fact that the company has taken corrective measures,” SQM said in a statement.
The scandal, which also involved other Chilean companies and lawmakers across the political spectrum, dominated headlines in the country for months.
915147 610771Created to measure curtains […]check out the internet sites listed below, worth a read for interiors and rugs enthusiasts[…] 784785
782712 84797Hi! Excellent post! Please do tell us when I will see a follow up! 374514
35160 758845This design is steller! You obviously know how to maintain a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almostHaHa!) Wonderful job. I actually enjoyed what you had to say, and much more than that, how you presented it. Too cool! 842232
763409 697655Hi! I discovered your website accidentally today, but am actually pleased that we did! Its not only entertaining, but in addition straightforward to make use of in contrast to lots that Ive viewed! 143373
158286 528494I surely didnt know that. Learnt 1 thing new these days! Thanks for that. 773243
An impressive share! I’ve just forwarded this onto a coworker who has
been conducting a little research on this. And he in fact bought me breakfast
due to the fact that I found it for him… lol. So let me rewoprd this….
Thahk YOU for the meal!!But yeah, thanx ffor spending the time
to discuss thi matter here on your internet site. https://odessaforum.Biz.ua
428507 2289I completely agree with you about this matter. Good post. Already bookmarked for future reference. 854484
915147 610771Created to measure curtains […]check out the internet sites listed below, worth a read for interiors and rugs enthusiasts[…] 784785
782712 84797Hi! Excellent post! Please do tell us when I will see a follow up! 374514
35160 758845This design is steller! You obviously know how to maintain a reader amused. Between your wit and your videos, I was almost moved to start my own blog (well, almostHaHa!) Wonderful job. I actually enjoyed what you had to say, and much more than that, how you presented it. Too cool! 842232
763409 697655Hi! I discovered your website accidentally today, but am actually pleased that we did! Its not only entertaining, but in addition straightforward to make use of in contrast to lots that Ive viewed! 143373
158286 528494I surely didnt know that. Learnt 1 thing new these days! Thanks for that. 773243
An impressive share! I’ve just forwarded this onto a coworker who has
been conducting a little research on this. And he in fact bought me breakfast
due to the fact that I found it for him… lol. So let me rewoprd this….
Thahk YOU for the meal!!But yeah, thanx ffor spending the time
to discuss thi matter here on your internet site. https://odessaforum.Biz.ua
428507 2289I completely agree with you about this matter. Good post. Already bookmarked for future reference. 854484