The Moline-based Deere and Company are paying the U.S. Securities and Exchange Commission $9.93 million to settle charges, including commercial bribery.
Reuters reported Tuesday (Sept. 10) that high-level managers and employees at its Wirtgen Thailand unit made improper payments to entities, including the Royal Thai Air Force and their nation’s department of highways.
Payments were made between late 2017 and 2020 and took the form of cash, meals, sham consulting fees, sightseeing ventures disguised as factory visits and massage parlor services.
The SEC says the payments and exchange of services violated the Foreign Corrupt Practices Act.
The payment breakdown is 4.5 million dollars in a civil fine, 4.34 million dollars of improper benefits repaid and 1.09 million dollars in interest.
The company released a statement “These allegations represent a clear violation of our company policies and ethical standards. They are in direct conflict with our core values--particularly our commitment to integrity--and we strongly condemn such practices."