Ericsson to pay $1bn to resolve corruption probe
The settlement includes a $520m criminal penalty imposed by the US justice department and a civil payment of about $540m to the Securities and Exchange Commission
08 December 2019 - 19:09
Washington — A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1bn to resolve a long-running US corruption investigation involving payoffs in Asia and the Middle East.
The Stockholm-based company admitted to a years-long campaign of corruption aimed at solidifying its grip on the telecommunications business, US Attorney Geoffrey S Berman in Manhattan said in announcing the settlement that outlined tens of millions of dollars in illicit payments in five countries...
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