Swedish telecom giant Ericsson sets $1.23 billion in reserves to cover fines relating to foreign bribes in China, Greece, Vietnam and more

Ericsson, the Swedish multinational networking and telecommunications company has reserved $1.23 billion to cover fines associated with foreign bribes made by the company in China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam, based on an investigation. Ericson has a 35% share in the 2-5G mobile market network and is the major competitor to Huaweri, the […]

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Microsoft subsidiary in Hungary to pay $8.7 Million iin criminal penalties to settle foreign bribery case

Microsoft’s subsidiary in Hungary, has agreed to pay a criminal penalty of more than $8.7 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising out of a bid rigging and bribery scheme in connection with the sale of Microsoft software licenses to Hungarian government agencies. According to Microsoft […]

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Walmart’s Brazilian subsdiary WMT pays $137 Million to DOJ’s investigation on foreign bribes

Walmart Inc. (Walmart), a U.S.-based multinational retailer and its wholly owned Brazilian subsidiary, WMT Brasilia S.a.r.l. (WMT Brasilia), will pau pay a criminal penalty of $137 million to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA).Œ WMT Brasilia pleaded guilty today in connection with the resolution. Assistant Attorney General Brian […]

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FBI investigating Johnson & Johnson, GE, Siemens and Phillips over alleged bribes and kickback schemes spanning 2 decades

Johnson & Johnson, GE, Siemens, and Philips are being investigated by the FBI for an alleged kickback scheme that could span over two decades. According to a recent report by Reuters, these companies may have been part of a complex scheme designed to secure medical equipment contracts in Brazil through a series of bribes made to government […]

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Former banker extradited from Malaysia for conspiring to launder billions of dollars from development fund and bribes to officials

Ng Chong Hwa, known as “Roger Ng,” a citizen of Malaysia, has been extradited to the United States from Malaysia to face charges of conspiring to launder billions of dollars embezzled from 1Malaysia Development Berhad (1MDB), Malaysia’s investment development fund, conspiring to violate the Foreign Corrupt Practices Act (FCPA) by paying bribes to multiple government […]

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