SEC prepares civil charges against Mondelez in Cadbury probe - WSJ

(Reuters) - The Securities and Exchange Commission is preparing to file civil charges against Oreo cookies maker Mondelez International Inc in connection with a long-running investigation of payments its Cadbury unit made in India, the Wall Street Journal reported, citing people familiar with the matter. Mondelez is unlikely to face any criminal bribery charges under the Foreign Corrupt Practices Act because no evidence has emerged connecting suspicious payments to the United States, the Journal said, citing one of these people. Prosecutors haven't ruled out other charges, the newspaper quoted the person as saying. (http://on.wsj.com/1jw330I) In a 2011 internal report, Mondelez concluded that Cadbury had used a consultant to funnel bribes to Indian officials in return for factory approvals and permits, which ultimately allowed Cadbury to claim a tax exemption valued at more than $90 million, the Journal said, citing the report. The company didn't disclose the findings to federal authorities, but a whistleblower provided it to the SEC and the U.S. Justice Department earlier this year, the Journal said, citing people close to the probe. The parties are in settlement talks, but any deal could still fall apart, the Journal reported. A Mondelez spokeswoman said the company was cooperating with the U.S. government's investigation. An SEC spokesperson declined to comment. (Reporting by Subrat Patnaik in Bengaluru; Editing by Sriraj Kalluvila)