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Samuel Rubenfeld
@srubenfeld.bsky.social
Talk for hours, I hardly know ya But I, I'm listening (he/him)
209 followers98 following1k posts
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Employees of an Indian subsidiary of Moog Inc. "bribed a variety of Indian foreign officials to win business," the SEC said in a document issued as part of a settlement with the technology firm. Employees also offered cash to officials to favor its products and exclude competitors.

Employees of an Indian subsidiary of Moog Inc. “bribed a variety of Indian foreign officials to win business,” the US Securities and Exchange Commission said today in a document issued as part of a settlement with the technology firm. The same employees also offered cash to Indian officials to cause public tenders to favor Moog’s products and exclude its competitors, according to the SEC. A variety of schemes were used to funnel the improper payments, including through third-party agents and distributors, the SEC said. The bribes were falsely recorded as legitimate business expenses in the New York-based parent company’s books and records, and they went undetected due to deficient internal accounting controls. The company was unjustly enriched by about $500,000, according to the SEC. Without admitting or denying the SEC’s findings, Moog agreed to pay a $1.1 million civil penalty, and disgorgement and prejudgment interest of about $600,000.
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Samuel Rubenfeld
@srubenfeld.bsky.social
Talk for hours, I hardly know ya But I, I'm listening (he/him)
209 followers98 following1k posts
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