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DOJ declines to prosecute Houston tank firm HMT for FCPA conduct

( September 29, 2016, 22:03 GMT | Official Statement) -- MLex Summary: HMT, a Houston firm that provides tanks to the oil and gas industry, will not be prosecuted for Foreign Corrupt Practices Act violations in Venezuela and China after the company voluntarily reported the conduct to the US Department of Justice, terminated several employees, enhanced its compliance program and internal controls, and disgorged some $2.7 million in profits. HMT also severed relationships with several distributors. The conduct involved the payment of some $500,000 in bribes to government officials from 1999 through 2011 to influence purchasing decisions. The letter laying out the settlement was released by the Department of Justice in accord with the FCPA pilot program announced in April. See document below....

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