BHP Billiton has paid $25m to settle charges from the US Securities and Exchange Commission after the miner offered packages worth thousands of dollars to foreign government officials to attend the 2008 Beijing Olympics.
The Anglo-Australian miner did not have enough internal controls over a hospitality programme that invited 176 government officials and employees of state-owned companies to the summer games, the SEC said on Wednesday. BHP was a sponsor of the 2008 event.
Some invitations were given to officials who were connected to negotiations or regulatory issues involving BHP, the SEC said.
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