IMI pays $18.2m after US probe

3rd Aug 2009 08:01

Engineer IMI has settled with the US Department of Justice over irregular payments by its US subsidiary Control Components Inc.As part of a plea agreement CCI will pay a fine of $18.2m and continue to co-operate with the DoJ in its ongoing investigations of certain former employees of CCI. CCI will also be subject to oversight by an independent compliance monitor.IMI says the fine is fully covered by previous provisions. It also confirmed that some of CCI's former employees have been charged with offences related to the investigation. No current employees of CCI or IMI have been prosecuted by the DoJ, the statement added.