US biotech behemoth Monsanto has agreed to pay a US$1.5m fine for bribery.
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One of its employees has admitted bribing a senior Indonesian official in an attempt to avoid an investigation into the environmental impact of its cotton-producing activities.
The bribe is reported to have been in the region of $50,000 and paid to an official in Indonesia’s environment ministry in 2002. It was masked as a ‘consulting fee’.
Ironically, the bribe did not result in the official ordering that the environmental impact study be called off.
Monsanto has also agreed to have its activities closely inspected by American authorities for the next three years.
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By GlobalData
