A South American airline taken to task by the Securities and Exchange Commission for authorizing improper payments during a union dispute with its Argentinian employees will pay $22 million to settle Foreign Corrupt Practices Act claims.
The agreement resolves parallel civil and criminal proceedings brought by the SEC and the U.S. Department of Justice against LAN Airlines. In order to quell a 2006 labor dispute, the SEC’s court papers said, LAN funneled $1.15 million through a third-party consultant to pay off union leaders demanding higher wages for aircraft mechanics, flight attendants and supervisors.
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