fcpa
Latest
Ericsson will pay over $1 billion to settle US corruption charges
Tech companies have been caught in corruption scandals before, but seldom on this scale. Telecom giant Ericsson has settled with the US Justice Department and SEC for just under $1.1 billion over charges of extensive corruption in several countries, including China, Saudi Arabia and Vietnam. The company had been accused of violating the Foreign Corrupt Practices Act between 2000 and 2016 by bribing officials to land customers, falsifying its records and failing to use "reasonable" accounting controls. The SEC, meanwhile, charged Ericsson with bribery that took place between 2011 and 2017.
Microsoft will pay $25 million to settle Hungary bribery charges
Microsoft is on the hook at home for alleged crimes abroad. The company has agreed to pay about $25 million in settlements with both the Justice Department and SEC over charges that its Hungary subsidiary violated the Foreign Corrupt Practices Act. The division allegedly discounted prices for its resellers and distributors between 2013 and 2015, using the increased profit margins to fund bribes for government officials and clinch lucrative software deals with Microsoft.
