Key Energy pays $5M to settle SEC charges

August 12, 2016 4:56 PM

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Houston-based Key Energy Services is paying $5 million to resolve allegations that the oil company violated the U.S. Foreign Corrupt Practices Act, the U.S. Securities and Exchange Commission announced Friday.

The SEC's Fort Worth Regional Office and the U.S. Attorney's Office in Houston charged Key Energy and its Mexico operations with making improper payments to a contract employee at Petróleos Mexicanos, Mexico's state-owned oil company, to help Key officials obtain insider information in order to nego...

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