SEC charges former CEO of Chilean-Based chemical and mining company with FCPA violationsStaff Writer |
LatAm Patricio Contesse González
The Securities and Exchange Commission (SEC) announced that the former CEO of Chilean-based chemical and mining company Sociedad Química y Minera de Chile, S.A. (SQM) has agreed to pay $125,000 to resolve charges that he violated the Foreign Corrupt Practices Act (FCPA).
The SEC’s order against Contesse finds that he directed and authorized these improper payments through a discretionary CEO account.
The payments were supported by fake documentation submitted to SQM by individuals and entities posing as legitimate vendors. Contesse caused the related false accounting entries in SQM’s books and records and also lied to SQM’s independent auditor and signed false certifications in SQM’s filings.
Contesse agreed to the settlement without admitting or denying the findings in the SEC’s order. ■
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