Federal Agents: Gibson

Gibson Guitar Corp. Dept: Under the agreement announced Monday, Nashville-based Gibson is to pay a $300,000 penalty. The company also agreed to forfeit claims to about $262,000 worth of wood seized by federal agents and contribute $50,000 to promote conservation of protected tree species, according to CBC. Gibson's decision to cooperate with federal laws banning the import of endangered wood products stands in contrast to a 2011 publicity campaign mounted after agents raided Gibson facilities in Memphis and Nashville and u.S. Federal prosecutors say a deal has been reached to drop the criminal case against Gibson Guitar Corp. after the instrument maker acknowledged its exotic wood imports violated environmental laws. The company didn't immediately respond to a request for comment. (www.immigrantscanada.com). As reported in the news.