Photo: WQAD News 8
(Moline, IL) -- Deere & Company is agreeing to pay nearly ten-million-dollars to resolve bribery charges by the Securities and Exchange Commission.
The agency accuses the agricultural equipment manufacturer of violating the Foreign Corrupt Practices Act for bribes paid by its wholly owned subsidiary, Wirtgen Thailand.
The SEC says from at least late 2017 through 2020, Wirtgen Thailand employees bribed Thai government officials to win multiple government contracts.
The SEC says the payments were inaccurately recorded as legitimate expenses in Deere’s books and records.
The accusations come on the heels of the layoff of nearly 15-hundred production and salaried employees at Deere this year.
Photo Credit: WQAD News 8