AGL Resources subsidiary paid off Caribbean officials – Atlanta Business Chronicle

AGL Resources Inc. has begun an investigation into payments made to local officials and other persons at a foreign port used by AGL’s shipping subsidiary, Tropical Shipping, which is one of the largest containerized cargo carriers serving the Bahamas and the Caribbean.

“While the investigation is ongoing, we believe that a number of payments were made over a series of years and the aggregate amount of these payments is less than $200,000 based upon information obtained to date,” the natural gas giant (NYSE: GAS) reported today.

AGL said it voluntarily disclosed the payments to the U.S. Department of Justice and Securities and Exchange Commission earlier in October. “We will cooperate with any investigation by the DOJ and the SEC,” AGL said, adding that it is unable to predict the duration, scope or result of any investigation.

An AGL Resources spokeswoman said the company cannot comment on additional specifics related to the investigation at this time.

via AGL Resources subsidiary paid off Caribbean officials – Atlanta Business Chronicle.