US biotech behemoth Monsanto has agreed to pay a US$1.5m fine for bribery.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
One of its employees has admitted bribing a senior Indonesian official in an attempt to avoid an investigation into the environmental impact of its cotton-producing activities.
The bribe is reported to have been in the region of $50,000 and paid to an official in Indonesia’s environment ministry in 2002. It was masked as a ‘consulting fee’.
Ironically, the bribe did not result in the official ordering that the environmental impact study be called off.
Monsanto has also agreed to have its activities closely inspected by American authorities for the next three years.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
