Monsanto fined US$1.5 million for Indonesian bribe
Agrochemical giant Monsanto has been fined US$1.5 million for bribing an official in Indonesia.
The US company admitted that in 2002, an employee arranged the US$50,000 bribe in an attempt to halt environmental impact studies on its genetically modified cotton. Monsanto also admits it bribed other high-ranking officials between 1997 and 2002.
Despite receiving the bribe, the Indonesian official did not comply with the company's request to waive the environmental regulations.
In addition to the fine, US authorities will monitor Monsanto's business practices for three years. The company says it accepts full responsibility for the actions of its employees.