Where Did They Learn to Do THAT?
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HOUSTON (CN) – Parker Drilling Co. bribed officials in Kazakhstan and Nigeria, and subsequent investigations by the SEC and Department of Justice cost the company $20 million, shareholders say in derivative complaint in Harris County Court.
The amount that Parker allegedly paid in bribes is not detailed in the complaint. But shareholders say company directors’ failure to ferret out the corruption violated the Foreign Corrupt Practices Act.
And then go lookie at this — 4 pages of political “contributions.” 95% of them went to Republicans, but a few Democrats got bribes contributions, too.
No need to wonder where Parker learned that bribes work.
Oddly enough, the complaint says —
Directors breached their fiduciary duty to Parker shareholders “by conducting Parker’s business in countries with higher than normal risk of corruption, such as Kazakhstan and Nigeria, without implementing internal controls in compliance with the FCPA,” according to the complaint.
“Countries with a higher than normal risk of corruption?”
No kidding, they said that with a straight face.