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.
Questionable business practices in the 1990s
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 Ericsson's orders in the 1990s. Since 2015, the Ministry of Justice has also been involved. The company has now accepted over $ 520 million in criminal sanctions and is paying around $ 540 million to the SEC. writes 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.
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