Deere & Co. is reportedly under investigation for potential violations of the U.S. Foreign Corrupt Practices Act related to potentially illicit payments made in Russia and other Eastern European countries.
The farm equipment manufacturer received an inquiry from U.S. authorities three months ago about the potential FCPA violations, The Wall Street Journal reported Wednesday, citing “two people familiar with the matter.”
The Moline, Ill.-based company has more than 50,000 employees and reported a profit of $904.3 million for the second quarter ended April 30. A spokesman for the company could not immediately be reached for comment.
Deere is the latest company to run into problems in Russia with the FCPA, a 33-year-old law that prohibits bribes to foreign officials to win business. Daimler AG, Siemens AG and others have had fines levied on them by the U.S. Department of Justice and the Securities and Exchange Commission for FCPA violations in Russia.
