Oil for Food

Boston, MA: (Oct-31-07) The US Securities and Exchange Commission (SEC) and the US Department of Justice brought charges against Ingersoll-Rand Company Ltd., regarding payments connected to the United Nations' Oil For Food program. Hamilton, Bermuda-based Ingersoll-Rand provides products and services used to transport and protect food and perishables. As part of a settlement agreement reached between the parties, Ingersoll-Rand announced that it had agreed to pay a total of $6.7 million in penalties, interest and disgorgement of profits. The company also said it will enter into a three-year deferred prosecution agreement with the US Department of Justice to resolve allegations. [CNN NEWS: OIL FOR FOOD PAYMENTS]

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.

Please click here for a free evaluation of your claim

Published on Nov-1-07