Editing Oil-for-Food Programme (section)

===Ingersoll-Rand pays $2.5m in fines for kickbacks===

In October 2007,<ref>{{cite web |url=https://www.sec.gov/litigation/litreleases/2007/lr20353.htm 
|title=Litigation Release No. 20353: SEC v. Ingersoll-Rand Company Ltd., Civil Action No. 107- CV- 01995 (D.D.C.) 
|publisher=US Securities and Exchange Commission 
|date=31 October 2007 
|access-date=7 December 2011
}}
</ref><ref>
{{cite web
|url=https://www.justice.gov/opa/pr/2007/October/07_crm_872.html 
|title=Ingersoll-Rand Agrees to Pay $2.5 Million Fine in Connection with Payment of Kickbacks Under the U.N. Oil for Food Program 
|publisher=US Department of Justice 
|date=31 October 2007 
|access-date=7 December 2011
}}</ref> the SEC brought a case against [[Ingersoll-Rand]] alleging kickbacks by three different subsidiaries to Iraqi Government officials. Ingersoll-Rand's German subsidiary [[Ingersoll-Rand ABG|ABG]], subsidiary I-R Italiana and the Irish subsidiary [[Thermo King]] paid "after-sales service fees" (ASSFs), although no bona fide services were performed. Ingersoll-Rand, without admitting or denying the allegations in the commission's complaint, consented to the entry of a final judgment permanently enjoining it from future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the [[Securities Exchange Act of 1934]], ordering it to disgorge $1,710,034 in profits, plus $560,953 in pre-judgment interest, and to pay a civil penalty of $1,950,000. Ingersoll-Rand was also ordered to comply with certain undertakings regarding its compliance program for the [[Foreign Corrupt Practices Act]], and to pay a $2,500,000 fine pursuant to a deferred prosecution agreement with the U.S. Department of Justice, Fraud Section.