Foreign Corrupt Practices Act: Investigations Dataset

Investigation Name: Investigation into Agco Corporation's Activities with the U.N. Oil-for-Food Program

Trend: United Nations Oil-for-Food Program

Type of investigation: SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation:

Brazilian Law Enforcement Agency
Danish Law Enforcement Agency
French Law Enforcement Agency
U.K. Law Enforcement Agency

Whistleblower: Unknown

Summary

AGCO Corporation ("AGCO"), headquartered in Duluth, Georgia, is a manufacturer and supplier of agricultural machinery under the brands Fendt, Valtra and Massey-Ferguson. Throughout the relevant time period, AGCO's common stock was registered pursuant to Section 12(b) of the Exchange Act and listed on the New York Stock Exchange under the symbol "AG".

According to its SEC filings, in February 2006, AGCO received a subpoena from the SEC in connection with a non-public, fact-finding inquiry entitled “In the Matter of Certain Participants in the Oil for Food Program.”

The subpoena requested documents concerning transactions in Iraq under the United Nations Oil for Food Program (OFFP) by AGCO and certain of its subsidiaries.

Subsequently AGCO was contacted by the Department of Justice (“DOJ”) regarding the same transactions, although no subpoena or other formal process was initiated by the DOJ.

The inquiries arose from sales of approximately $58.0 million in farm equipment to the Iraq ministry of agriculture between 2000 and 2002. The Danish, French, Brazilian, and U.K. governments initiated similar inquiries regarding two of AGCO’s subsidiaries.

The SEC’s staff asserted that certain aspects of those transactions were not properly recorded in AGCO’s books and records.

AGCO fully cooperated with these inquiries, including discussions regarding settlement.

As disclosed in its November 6, 2009 10-Q filing, during the three months ending September 30, 2009, AGCO resolved the inquiries by the SEC and DOJ relating to the company’s sales of equipment to the Iraq government between 2000 and 2002 under the OFFP.

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| Investigations Dataset

Investigations Dataset

Information & Summary

Investigation into Agco Corporation's Activities with the U.N. Oil-for-Food Program

Information & Summary

Protected Content