WASHINGTON - Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday.
The company admitted it had conspired with others to violate the Foreign Corrupt Practices Act from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls, the Justice Department said in a statement.
One of the company’s subsidiaries, Ericsson Egypt Ltd, pleaded guilty in the Southern District of New York to a charge of conspiracy to violate the anti-bribery provisions of the FCPA.
And the same ericsson company expects to benefit from US Govt subsidies thru the US Int'l Development Finance Corp. opicgov for 5G telecommunications network infrastructure assistance to developing economies. Is this why they are 'cleaning-up' their relationship with the US?
What’s the point? These corporations see corruption as a smart business decision. They make more than they end up paying in fines and continue to operate with minimal sanctions.
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