Blew It: Ericsson Has to Pay $206 Million Fine for Violating a Bribery Deal With the Feds
fashioned corruptionWhat kind of corruption is Ericsson accused of?$520 million following a criminal indictment accusing it ofForeign Corrupt Practices Act. In a DPA, prosecutors can charge companies for crimes but agree to eventually drop those charges if certain conditions are met. In Ericsson’s case, the company’s DPAAdvertisement
But that didn’t happen. Instead, DOJ prosecutors allege Ericsson breached that agreement by “failing to truthfully disclose all factual information and evidence,” related to its shady business in Djibouti and China. Similarly,conduct in Iraq that may have violated the Foreign Corrupt Practices Act. “When the Department afforded Ericsson the opportunity to enter into a DPA to resolve an investigation into serious FCPA violations, the company agreed to comply with all provisions of that agreement,” DOJ Assistant Attorney General Kenneth Polite, Jr. said in a statement. “Instead of honoring that commitment, Ericsson repeatedly failed to fully cooperate and failed to disclose evidence and allegations of misconduct in breach of the agreement.
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