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Aon Corp. Whacked for $16.3 Million

WASHINGTON (CN) - Aon Corp. will pay $14.5 million to the SEC and a $1.8 million criminal fine for bribing overseas companies to get their business, the SEC said Tuesday in a settled complaint.

Aon, one of the world's largest brokerage firms, settled the SEC complaint without admitting it did it. The SEC claims Aon violated the Foreign Corrupt Practices Act by paying bribes around the world, including in Costa Rica, Egypt, Vietnam, Indonesia, the United Arab Emirates, Myanmar and Bangladesh. It claims Aon made more than $11.4 million in profits from its bribes.

Aon agreed to disgorge the $11.4 million, plus $3.1 million in interest.

And it agreed to pay the Justice Department $1,764,000 under a nonprosecution agreement.

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