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: Legal Pad | LA

Former OC exec pleads guilty to bribery charges

By Jonathan Hayter

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SANTA ANA, Calif. (AP) ? An executive at an Orange County industrial valve manufacturer has pleaded guilty to paying $628,000 in bribes to four foreign utility officials who bought his company's products.

Richard Morlok, the former finance director of Control Components Inc., entered his plea Tuesday in U.S. District Court in Santa Ana. He is charged with a felony count of conspiring to bribe officials with state-owned gas, oil and power companies in China, South Korea, Romania and Saudi Arabia.

Morlok's plea agreement says his company made about $3.5 million in profit from the companies he bribed. He also agreed to cooperate with FBI investigators.

He is the second official with Control Components to plead guilty to violating the U.S. Foreign Corrupt Practices Act.

Full post as published by Legal Pad | LA on February 04, 2009 (boomark / email).

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