NEWS
Fri Dec 20, 2013 04:56 PM CST

(Dow Jones) -- Archer Daniels Midland Co. has agreed to pay more than $36 million to settle charges under the Foreign Corrupt Practices Act that it failed to prevent bribes by its subsidiaries in Germany and Ukraine, the Securities and Exchange Commission said Friday.

The SEC said the subsidiaries paid more than $21 million to bribe government officials through intermediaries to receive value-added tax refunds. The alleged bribery lasted from 2002 to 2008, and netted about $33 million in illegal profits, according to the commission.

In a parallel action, the Justice Department said the company's subsidiary in Ukraine pleaded guilty ...

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