NEW YORK: US prosecutors Thursday reached an US$850 million settlement with Russia's leading telecoms firm over huge bribes paid to the family of Uzbekistan's former president - and charged the late leader's daughter in related proceedings.
In agreeing to the fine"MTS affirmed its commitment" to complying with anti-corruption legislation, it said.Charges were also filed against the late president's daughter Gulnara Karimov in connection with a decade-long scheme to pay her more than US$865 million in bribes, one of the largest cases ever brought under the Foreign Corrupt Practices Act, prosecutors said in a statement.
"Between approximately 2001 and 2012, Karimova and Akhmedov agreed that Akhmedov would solicit and obtain corrupt bribes for Karimova from telecommunications companies," the US Attorney's Office for the Southern District of New York said in a statement.MTS was in a long-running dispute with the Uzbek authorities, which seized the company's local subsidiary in 2012 after cancelling its operating licenses for alleged tax evasion.
"The company engaged in egregious misconduct for nearly a decade, secretly funneling hundreds of millions of dollars to a corrupt official," the SEC said in a statement. MTS was not the only telecoms company involved."Karimova squeezed more than US$1 billion worth of payments ... out of international telecom-related companies," OCCRP said.
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