- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-10-15T17:05:00
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
Moog agreed to pay nearly $1.7 million in penalties and fines to settle allegations that its Indian subsidiary, Moog Motion Controls Private, violated the Foreign Corrupt Practices Act (FCPA) numerous times from 2020-22, the SEC announced in a press release Friday.
The enforcement action continues a busy year for FCPA enforcement by the SEC and Department of Justice (DOJ), which have also shown a willingness to reduce penalties and even decline to prosecute violations that are self-reported.
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