AB Volvo penalized for kickbacks to Iraq

April 2008
Trailer / Body Builders;Apr2008, Vol. 49 Issue 6, p12
Trade Publication
The article reports on AB Volvo's agreement to pay a $7 million penalty in relation to charges that its subsidiaries paid kickbacks to the Iraqi government. The entry cites that the company is complying with an agreement made with the U.S. Department of Justice in 2008 to cooperate fully with the ongoing Oil for Food investigations. In line with this, charges were filed against AB Volvo subsidiaries Renault Trucks SAS and Volvo Construction Equipment for violating provisions of the Foreign Corrupt Practices Act.


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