(MENAFN) US securities regulators order BHP Billiton to pay a USD25 million penalty for violating a bribery law by treating foreign officials to trips to the 2008 Summer Olympics, The Peninsula Qatar reported.
BHP paid for travel and luxury hotel for 60 mostly African and Asian government and state enterprise officials as well as spouses to attend the Olympic Games in Beijing, violating the US Foreign Corrupt Practices Act.
Australia's mining giant BHP agreed to the fine to settle the case without admitting or denying the findings. The SEC said the company cooperated with its probe and took efforts to correct its practices.
"BHP Billiton footed the bill for foreign government officials to attend the Olympics while they were in a position to help the company with its business or regulatory endeavors," SEC enforcement division director said.
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