In the year 2001 it was found that Baker Hughes had bribed of $ 15,000 and was fined for $ 1,00,00,000. Though the penalty amount for them is $ 1,00,00,000 it includes for total violations done by Baker Hughes and it is not only for the China violations. This investigation was carried out by the internal FCPA Investigation Agency of SEC and/or DOJ.
Baker Hughes, through Western Geophysical’s General Manager for Western Geophysical’s Far East, Australia and China Operations, authorized Western Geophysical to pay one of its agents $15,000 to obtain shipping permits from the Director General of Shipping. The General Manager authorized the $15,000 payment without determining to whom the money ultimately would be paid or the specific purpose of the payment.
In addition, Baker Hughes recorded the $15,000 payment on its books and records in a manner that did not, in reasonable detail, accurately and fairly reflect the disposition of its assets. Baker Hughes were also found guilty for violating in other countries like India, Indonesia, Nigeria, Brazil and Australia.
