BUSINESS BRIEFING / COURTS
TIMES WIRE REPORTS
Control Components Inc. of Rancho Santa Margarita has pleaded guilty to paying bribes to officials at state-owned companies in China, Malaysia and the United Arab Emirates, U.S. prosecutors said.
The maker of control valves used in nuclear, oil and gas power plants pleaded guilty to violating the U.S. Foreign Corrupt Practices Act and the Travel Act, U.S. Atty. Thomas O’Brien in Los Angeles said. The company was ordered to pay an $18.2-million fine.
Control Components is a subsidiary of British firm IMI.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.