SEC Sues Former Senior Monsanto Manager Charles Martin for Authorizing a Bribe

06 March 2007 Publication

In March 2007, the SEC filed a settled civil enforcement action against Charles Martin, the former Government Affairs Director for Asia for Monsanto Company. Per the complaint, Martin authorized and directed an Indonesian consulting firm to make a $50,000 improper payment to a senior Indonesian Ministry of Environment official in the hopes the official would take action favorable to Monsanto's business in Indonesia. The complaint further alleges that Martin directed the consulting firm to falsely bill Monsanto in order to generate the funds needed to make the improper payment. Based on this conduct, Martin agreed to pay $30,000 in combined fines and penalties. In January, 2005 Monsanto settled related FCPA charges by agreeing to pay $1.5 million in criminal and civil fines and penalties and to be bound by a 3 year deferred prosecution agreement.