Oil Industry Faces Aggressive Fed Corruption
Investigations
Key Energy Services’ (NYSE: KEG)
revenues were up 4% in the fourth quarter of 2014 but the services company
faces singular challenges as the market struggles and it bleeds money amid an
ongoing federal corruption investigation.
In
January 2014, the Securities and Exchange Commission (SEC) advised Key it was
investigating possible violations of the Foreign Corrupt Practices Act
(FCPA). The accusations involve business activities of Key’s operations
in Russia.
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