Industry / Iraq
Organon Fined Over Oil-For-Food 'Bribes'
July 2008 | Company News AlertThomson Financial has reported that Schering Plough's Organon was among seven companies that were fined a combined EUR1.3mn (US$2.1mn) for paying bribes to Saddam Hussein's regime in Iraq over the United Nations' oil-for-food deal. Organon received a fine of EUR380,602 (US$603,618) from a Dutch court for its involvement in the bribery case. The court added that it plans to recover the profits made by the companies from the deals.
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