USDOJ
FOR IMMEDIATE RELEASE
THURSDAY, MARCH 20, 2008
AB Volvo to Pay $7 Million Penalty for Kickback Payments to the Iraqi Government under the U.N. Oil for Food Program
WASHINGTON – AB Volvo has agreed to pay a $7 million penalty as part of an agreement with the U.S. Department of Justice regarding charges brought in connection with an ongoing investigation related to the U.N. Oil for Food program, Assistant Attorney General Alice S. Fisher of the Criminal Division announced today.

The Department of Justice today filed an agreement with AB Volvo, as well as criminal
informations against AB Volvo subsidiaries, Renault Trucks SAS (Renault Trucks) and Volvo Construction Equipment AB (VCE), in the U.S. District Court for the District of Columbia. The informations charge that Renault Trucks and VCE engaged in separate conspiracies to commit wire fraud and to
violate the books and records provisions of the Foreign Corrupt Practices Act.