Chinese developer agrees to pay $1 million in federal bribery case
The subsidiary of a Chinese-based real estate company has agreed to pay $1,050,000 to resolve a federal investigation into its involvement in a bribery and fraud case, federal prosecutors said Wednesday.
In a statement, the U.S. Attorney’s Office said it had decided not to prosecute because company officials had taken responsibility for its conduct in a “timely” way, fired a real estate consultant who later pleaded guilty in the corruption probe and cooperated with investigators. The agreement does not prevent prosecutors from charging individuals who work at Jia Yuan USA or its Chinese parent company, Shenzhen Hazens.
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