Ex-Schnitzer exec makes deal to settle SEC bribery charges

Dec 13, 2007 | 02:56 PM | Michael Marley

Robert W. Philip, former chairman and chief executive officer of Schnitzer Steel Industries Inc., has agreed to pay more than $260,000 to settle allegations that he bribed officials overseas to do business with the Portland, Ore.-based scrap exporter.

Without admitting guilt, Philip agreed to settle the charges that he violated the anti-bribery provisions of the Foreign Corrupt Practices Act, the U.S. Securities and Exchange Commission (SEC) said. Philip's settlement includes $169,864 in disgorgement of bonuses, $16,537 in interest and a $75,000 civil....

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