Ericsson fined $206 million in US
- March 3, 2023
- 0
Ericsson headquarters in Stockholm. Ericsson has to cough up a fine of 206 million dollars (194 million euros) in the USA. It’s an offshoot of a 2019 settlement
Ericsson headquarters in Stockholm.
Ericsson has to cough up a fine of 206 million dollars (194 million euros) in the USA. It’s an offshoot of a 2019 settlement in a corruption case.
In 2019, Ericsson settled a corruption case with US authorities. The company paid more than $1 billion to settle a case involving years of bribing officials in Djibouti, China, Vietnam, Indonesia and Kuwait. Ericsson emphasizes that there are no new allegations with the new fine.
According to the US Department of Justice, the Swedish company did not meet all the requirements regarding the provision of information and documents. The original settlement asked the company to disclose “all factual information and evidence” related to the case, but allegedly withheld information about a similar bribery scheme in Iraq.
In 2019, Ericsson settled a corruption case with US authorities. The company paid more than $1 billion to settle a case involving years of bribing officials in Djibouti, China, Vietnam, Indonesia and Kuwait. Ericsson emphasizes that there are no new allegations with the new fine. According to the US Department of Justice, the Swedish company did not meet all the requirements regarding the provision of information and documents. The original settlement asked the company to disclose “all factual information and evidence” related to the case, but allegedly withheld information about a similar bribery scheme in Iraq.
Source: Data News
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