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Detailed text transcripts for TV channel - FOXNEWS - 20120806:16:47:00

pay a $300,000 fine. the company will make a $50,000 donation toward tree conservation efforts, and the company will withdraw its claims to wood already confiscated by federal agents. federal agents first raided gibson in 2009 confiscating ebony from madagascar that they used to make finger boards. madagascar bans the export of certain materials. gibson said it was precut and approved for sale by local officials in madagascar. the government argued cutting the wood did not make it a product that could be exported. there were allegations that the company fraudulently labeled ebony from india to bypass their laws. gibson said it was a clerical error and the wood was legal for sale and approved by indian authorities. now the company is agreeing to

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