GOVERNMENT & POLICE NEWS

Students Complete Summer Training Programs in Agricultural Science

Six Virgin Islands students recently completed comprehensive training programs in agricultural science at Alcorn State University (ASU) in Loran, Mississippi,…

Audio Galleries

Half a dozen young people, local artists and music producers have created a peace song for Carnival 2014. To read more about the song, click here.
 

 
Currently:Click for Saint Croix, Virgin Islands Forecast

Source Picks

V.I. GDP Shrank In 2013, Economy Still in Recession

The territory's economy shrank in 2013, indicating the territory remains mired in recession, with gross domestic product decreasing 5.4 percent to $3.79 billion last year, according to data released Tuesday.

READ ENTIRE ARTICLE
2014-08-20 00:44:30
Burger King, Save-A-Lot, Coming to St. Croix

A Burger King and a Save-A-Lot Grocery are coming soon to Island Crossings Shopping Center, the St. Croix's newest shopping center and home to Home Depot home improvement warehouse store.

READ ENTIRE ARTICLE
2014-08-20 00:21:27
WVGN Radio Sold

Local radio station WVGN 107.3 FM, home to NPR, has been sold. Former owners say more local programming needs to be integrated.

READ ENTIRE ARTICLE
2014-08-20 00:02:19
Local news — St. Croix
CommentLog in or Register to CommentE-mailE-MAILPrintPRINT
Diageo Parent Company to Pay $16M to Settle Bribery Case

Diageo PLC, the London-based parent corporation of Diageo USVI, agreed Wednesday to pay about $16.4 million to settle civil allegations of bribing government officials in India, Thailand and South Korea, the Associated Press reported.

The company did not admit or deny wrongdoing but agreed to refrain from future violations, according to the AP report. Diageo was accused of bribing the officials to get sales and tax benefits for its Johnnie Walker and Windsor Scotch whiskeys and other brands.

The Securities and Exchange Commission on Wednesday announced the settlement with the company, which is the world's largest maker of distilled spirits. The SEC had accused Diageo of paying more than $2.7 million in bribes through subsidiaries in the three countries from 2003 to 2009.

On St. Croix, local representatives of Diageo USVI, the company's distiller of its Captain Morgan's Spiced Rum, said the issue was a corporate, not a local issue and referred questions to the corpration's U.S. headquarters in New York.

The corporation's public relations office issued a statement noting the SEC investigation related to payments involving Diageo’s subsidiaries. Under the settlement Diageo has agreed to pay $13.4 million to the SEC in disgorgement of profits and pre-judgment interest, to pay a $3 million penalty to the SEC, and to cease and desist from committing any further violations.

Advertising (skip)

"Diageo takes the SEC’s findings seriously and regrets this matter," the corporate statement said. "Systems and controls have been enhanced in an effort to prevent the future occurrence of such issues and to reinforce, everywhere the company operates, a culture of compliance and commitment to the principles embodied in Diageo’s Code of Business Conduct."

Diageo opened its Captan Morgan's distillery on St. Croix in November 2010 and earlier this month began construction on a $4 million visitor center.

Read more stories in Local news»»