The United States Justice Department said that Latin America’s largest air carrier had entered a “fictitious $1.15 million consulting agreement with an advisor to the Secretary of Argentina’s Ministry of Transportation.” The US government indicated that consulting services were never provided, and the money was simply passed along to officials in order to help end a labor strike in Argentina in 2006.
As a result of these actions, LATAM Airlines (perhaps better known by their former name, LAN Airlines, prior to merging with Brazil’s TAM Airlines), agreed to pay $22 million in civil and criminal fines.
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.