Corporate
crime is still a major problem in this country and we, as consumers and
citizens, must always be on the alert for improper conduct. Pfizer agreed to
pay $26 million to the US Securities and Exchange Commission after a probe into
the drug maker’s use of illegal payments to win business overseas. Wells Fargo
is paying $6.6 million to settle the SEC charge that it failed to inform
investors about the risks tied to mortgage securities it sold. Standard
Chartered Bank will pay $340 million to settle charges that it “schemed with
the government of Iran and hid from regulators roughly 60,000 secret
transactions, involving at least $250 billion, and reaping SCB hundreds of
millions of dollars in fees.” The company Blackwater now called Academi
LLC has agreed to pay a fine of $5 to $7.5 million for trying to operate
in Sudan in violation of trade sanctions and other arms trade breaches.
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