portland independent media center  
images audio video
newswire article coverage global

corporate dominance | environment | genetic engineering

MONSANTO found guilty of BRIBERY

In their continued attempts at the commodification of Life and their sustained assault on global food security, St. Louis based Monsanto corporation scoffs integrity by bribing an Indonesian official.

(paraphrased from  http://news.bbc.co.uk/2/hi/business/4153635.stm (so it hopefully doesn't get composted for being a copy of corporate news, which it is, but still good fodder for pdximc)
EARTH-Jan 7, 2005. MONSANTO corporation, "inventors" of Genetically Modified (GM) strains of corn, cotton, canola, and soybeans faced criminal charges* this week for paying out $50,000 US, disguised as "consulting fees" to bribe an Indonesian official. The chemical corporation was trying to prevent the government from conducting an environmental impact assessment of it's GM cotton.

Monsanto corporation apparently confessed to the bribe and reported their crime to the US Justice Department and Securities and Exchange Commission.

For paying officials to look the other way instead of studying whether or not their products pollute our environment, the coporation will now pay $1 Million to the Justice Dept and $500,000 to the SEC (more bribes of a different sort, perhaps?).

Last year Monsanto raked $5.53 Billion US in sales, with a PROFIT of $2.57 Billion. (what's a little 1.5 mil bribe to cover a bribe, eh?)

"Monsanto also has admitted to paying bribes to a number of other high-ranking officials between 1997 and 2002."

Civil and Criminal investigations of Monsanto's business continue.

(*Since they claim to be "people," 3 strikes and the corporations should be out, right?)

Original article found at:  http://news.bbc.co.uk/2/hi/business/4153635.stm

***food for people, not for profit***

add a comment on this article

Boycot their products 07.Jan.2005 13:24

Bird Dog

Is the only way they will learn is to hurt them where they are most concerned.