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Albemarle will pay $218 million to resolve bribery investigation

by Matt Blois
October 6, 2023 | A version of this story appeared in Volume 101, Issue 33

 

The US chemical firm Albemarle will pay $218 million to resolve investigations by the US Department of Justice (DOJ) and the US Securities and Exchange Commission. The agencies were looking into a scheme in which the company bribed government officials in Vietnam, Indonesia, and India to retain catalyst sales to state-owned oil refineries between 2009 and 2017. Albemarle disclosed the bribes to regulators in 2018. The DOJ claims that the bribes resulted in profits of nearly $100 million for Albemarle.

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