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• Universal says SEC formally probing foreign payments 

Jump to full article: Reuters, 2006-06-14

Intro:

Tobacco leaf producer Universal Corp. said on Wednesday that it has been notified by the U.S. Securities and Exchange Commission of a formal investigation into possible violations of the U.S. Foreign Corrupt Practices Act.

It said an investigation by an outside law firm hired by the company's board found that about $1 million was paid over a five-year period involving its tobacco subsidiaries.

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