Monsanto, a Delaware corporation based in St. Louis, Missouri, is a global producer of technology-based solutions and agricultural products for growers and downstream customers in agricultural markets. The Company's common stock is registered with the Commission pursuant to Exchange Act Section 12(b) and is listed on the New York Stock Exchange.
In 2002, Charles Martin authorized and directed an Indonesian consulting firm to make an illegal payment totaling $50,000 to a senior Indonesian Ministry of Environment official in order to influence the official to repeal an unfavorable decree that was likely to have an adverse effect on Monsanto's business. The $50,000 payment was made to the Senior Environment Official, but he never repealed the unfavorable decree, and Monsanto obtained no benefit from the bribe.
On January 6, 2005, Monsanto entered into a three-year Deferred Prosecution agreement with the DOJ, agreeing to pay a $1 million criminal penalty. On March 5, 2008, the U.S. District Court for the District of Columbia dismissed with prejudice the charges against Monsanto, having found that Monsanto complied with the terms of its Deferred Prosecution agreement.
In a related action, Monsanto consented to the entry of an administrative cease and desist order permanently enjoning the company from violating the FCPA's anti-bribery, books and records, and internal controls provisions and ordering the company to retain an independent compliance consultant for three years. Monsanto also entered into a consent judgment with the SEC under which it agreed to pay a $500,0000 civil penalty.
On March 6, 2007, Charles Martin consented to the entry of a final judgment permanently enjoning him from future violations of the FCPA. He agreed to pay a $30,000 civil penalty.
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