Defendant Name:
Nortek, Inc.
Defendant Type:
Public Company
Document Reference:
2016-109_Nortek
Document Details
Legal Case Name
Non-Prosecution Agreement with Nortek, Inc.
Document Name
SEC announces Two Non-Prosecution Agreements in FCPA Cases
Document Date
07-Jun-2016
Document Format
Civil Proceeding
Case Number
NPA-2016-109_Nortek
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On June 7, 2016, the SEC announced a non-prosecution agreement with Nortek, Inc. "that will forfeit ill-gotten gains connected to bribes paid to Chinese officials by foreign subsidiaries." The SEC stated that "approximately $290,000 in improper payments and gifts were made to Chinese officials by Nortek's subsidiary in order to receive preferential treatment, relaxed regulatory oversight, or reduced customs duties, taxes, and fees. These included cash payments, gift cards, meals, travel, accommodations, and entertainment."
Disgorgement & Penalty Information
Resolutions
Non-Prosecution Agreement
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
