January 06, 2017
Cadbury Limited f/k/a Cadbury plc, Mondel?z International, Inc.
SANCTION AMOUNT: $13 million
Defendants: Cadbury Limited f/k/a Cadbury plc, Mondel?z International, Inc.
The SEC found that respondent Cadbury's India subsidiary violated books and records and controls provisions of the securities laws in its retention of an agent to interact with Indian government officials regarding licenses and approvals for a chocolate factory. It appeared that license applications were quickly approved following payments of the agent's invoices, and that the company turned a blind eye to the agent's activities and misrepresented the nature of services rendered by the agent in its books and records. Respondent Mondel?z was additionally found responsible due to its subsequent acquisition of Cadburys stock.
- Key Docs
- Official SEC press release