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  • U.S. Securities and Exchange Commission Charges Multinational Telecommunications Company With FCPA Violations

    U.S. Securities and Exchange Commission Charges Multinational Telecommunications Company With FCPA Violations | site |



    (December 6, 2019) - - Today, the U.S. Securities and Exchange Commission (SEC) published the following information: Washington D.C., Dec. 6, 2019 — The Securities and Exchange Commission today announced that Sweden-based Telefonaktiebolaget LM Ericsson was charged with engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in multiple countries. The bribes netted Ericsson hundreds of millions in profits. To resolve these alleged violations of the Foreign Corrupt Practice Act (FCPA) and charges from a parallel criminal investigation, Ericsson has agreed to pay more than $1 billion to the SEC and the U.S. Department of Justice and to install an independent compliance monitor. The SEC’s complaint alleges that from 2011 through 2017, Ericsson subsidiaries obtained business value
    ...
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  • Treasury Department Reaches 100 Million Dollars Settlement With Zhongxing Telecommunications Equipment Corporation

    Treasury Department Reaches $100 Million Settlement With Zhongxing Telecommunications Equipment Corporation

    Treasury Settlement Part of Interagency Investigation into Apparent Violations of Iranian Transactions and Sanctions Regulations





    Washington, DC - - (March 7, 2017) - - As part of a combined $1.192 billion resolution, pending court approval, with federal agencies, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $100,871,266 settlement agreement with Zhongxing Telecommunications Equipment Corporation and its subsidiaries and affiliates, as well as with ZTE Kangxun Telecommunications Ltd. and its subsidiaries and affiliates (collectively referred to as “ZTE”), to settle ZTE’s potential liability for apparent violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560. If ZTE’s criminal plea is approved in federal court, the combined resolution figure would
    ...
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  • Staff Reporter 1
    U.S. Securities and Exchange Commission Charges Multinational Telecommunications Company With FCPA Violations
    by Staff Reporter 1
    U.S. Securities and Exchange Commission Charges Multinational Telecommunications Company With FCPA Violations | site |



    (December 6, 2019) - - Today, the U.S. Securities and Exchange Commission (SEC) published the following information: Washington D.C., Dec. 6, 2019 — The Securities and Exchange Commission today announced that Sweden-based Telefonaktiebolaget LM Ericsson was charged with engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in multiple countries. The bribes netted Ericsson hundreds of millions in profits. To resolve these alleged violations of the Foreign Corrupt Practice Act (FCPA) and charges from a parallel criminal investigation, Ericsson has agreed to pay more than $1 billion to the SEC and the U.S. Department of Justice and to install an independent compliance monitor. The SEC’s complaint alleges that from 2011 through 2017, Ericsson subsidiaries obtained business value
    ...
    12-07-2019, 09:30 AM
  • OverSeer
    Treasury Department Reaches 100 Million Dollars Settlement With Zhongxing Telecommunications Equipment Corporation
    by OverSeer
    Treasury Department Reaches $100 Million Settlement With Zhongxing Telecommunications Equipment Corporation

    Treasury Settlement Part of Interagency Investigation into Apparent Violations of Iranian Transactions and Sanctions Regulations





    Washington, DC - - (March 7, 2017) - - As part of a combined $1.192 billion resolution, pending court approval, with federal agencies, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $100,871,266 settlement agreement with Zhongxing Telecommunications Equipment Corporation and its subsidiaries and affiliates, as well as with ZTE Kangxun Telecommunications Ltd. and its subsidiaries and affiliates (collectively referred to as “ZTE”), to settle ZTE’s potential liability for apparent violations of the Iranian Transactions and Sanctions Regulations, 31 C.F.R. part 560. If ZTE’s criminal plea is approved in federal court, the combined resolution figure would
    ...
    03-10-2017, 03:53 PM

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