Columbia Grain owner to pay $88M in bribery charges

Columbia Grain owner to pay $88M in bribery charges

Tokyo-based Marubeni Corp. agreed to pay an $88 million fine and pleaded guilty to foreign-bribery charges.

The Tokyo-based company's plea relates to a scheme to pay bribes to high-ranking Indonesian officials to secure a $118 million contract for a power project as a part of a consortium. The company was charged with one count of conspiracy and seven counts of violating the Foreign Corrupt Practices Act, which bars bribery of foreign officials for business purposes.

Read more at Wall Street Journal