AGCO Corporation Agrees to Pay $18.3 Million to Settle SEC Charges of FCPA Violations

Source: US Securities and Exchange Commission

Washington, D.C., Sept. 30, 2009 — The Securities and Exchange Commission today charged AGCO Corporation with violations of the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA), alleging that certain subsidiaries made approximately $5.9 million in kickback payments related to their sales of humanitarian goods to Iraq under the United Nations Oil for Food Program. AGCO Corporation, a manufacturer and supplier of agricultural equipment headquartered in Duluth, Ga., has agreed to pay more than $18.3 million to settle the SEC's charges. Click here to read more.