Another Company Announces FCPA Internal Investigation
Universal Corporation, a publicly traded company with operations in tobacco, lumber and agricultural products, today issued a press release stating that an internal investigation conducted by the Company's Board of Directors revealed that payments were made "that may have violated the U.S. Foreign Corrupt Practices Act." The investigation was commmenced after a post on the company's "Ethics Complaint hotline" alleged improper activities that involved or related to the company's tobacco subsidiaries. The payments involved appear to have approximated $1 million over a five-year period. The press release stated that the company "voluntarily reported these activities to the appropriate U.S. authorities and has initiated corrective actions."
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