Russian telecommunications provider Mobile TeleSystems (MTS) has reached settlements with both the Department of Justice and the Securities and Exchange Commission to resolve charges that it violated the Foreign Corrupt Practices Act to win business in Uzbekistan.

To the SEC, MTS will pay $100 million. In a related matter, MTS entered a deferred prosecution agreement with the Department of Justice. Its subsidiary pleaded guilty in federal court and has agreed to pay a criminal fine and forfeiture in the amount of $850 million. The Justice Department credited the $100 million penalty that MTS will pay to the SEC. The company must also retain an independent compliance monitor for at least three years.

According to the SEC’s order, MTS bribed an Uzbek official who was related to the former President of Uzbekistan and had influence over the Uzbek telecommunications regulatory...

Read this single article for $49, or click the subscribe button below to review subscription options.