Network Equipment: Ericsson Pays Billions in US Corruption

Network Equipment: Ericsson Pays Billions in US Corruption

       Network Supplier Ericsson Pays Billions in US Corruption The Swedish network equipment provider is sanctioning the US corruption process by paying a fine. The comparison goes over a billion dollars. Share article by: Share article by: Swedish network equipment provider Ericsson has agreed with US authorities on high fines to settle a corruption case. The company paid over $ 1 billion (€ 0.9 billion) for violating anti-corruption laws, the Justice Department said Friday in Washington. Ericsson had been investigated for questionable business practices in China and five other countries in previous years. The Group had already expected a high penalty and formed corresponding provisions. Since 2013 the US Securities and Exchange Commission SEC has been examining the emergence of some orders from Ericsson in the 1990 er years. Since 2015 also the Ministry of Justice has been dealing with it. Now, the company has accepted criminal sanctions of over 520 million dollars and is paying around 540 millions to the SEC, according to the ministry. An Ericsson daughter also pleaded guilty to conspiring to violate the Foreign Corrupt Practices Act. With this anti-corruption law, the US is pursuing bribery charges beyond its own borders. Share article by: Share article by: © Handelsblatt GmbH – All rights reserved. Acquire usage rights?          Services offered by our partners       
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