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Telia Company and Uzbek subsidiary to pay $965M for FCPA violations

Jaclyn Jaeger | September 22, 2017

Sweden-based telecommunications provider Telia Company AB and its Uzbek subsidiary, Coscom, will pay $965 million in total penalties in a global settlement to resolve corruption charges arising out of a scheme to win business in Uzbekistan.

Acting U.S. Attorney Joon Kim of the Southern District of New York said it is “one of the largest criminal corporate bribery and corruption resolutions ever.”

The U.S. Securities and Exchange Commission and the Public Prosecution Service of the Netherlands (Openbaar Ministrie, or OM) announced separate settlements with Telia in connection with related proceedings. According to the SEC order, Telia entered the Uzbek telecommunications market by offering and paying at least $330 million in bribes to a shell company under the guise of payments for lobbying and consulting services that never actually occurred. The shell company was controlled by an Uzbek government...

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