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: news.bbc.co.uk/2/hi/business/4153635.stm (external - login to view)
Hey Rev wonder what our "buddy" professor has to say about this