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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-03-03T19:53:00
Swedish telecommunications company Ericsson agreed to pay nearly $207 million following two breaches of its 2019 deferred prosecution agreement (DPA) with U.S. authorities.
Ericsson breached its DPA by continuing the corrupt practices of “paying bribes, falsifying books and records, and failing to implement reasonable internal accounting controls in multiple countries,” the Department of Justice (DOJ) announced Thursday.
Ericsson was originally investigated by the DOJ for engaging in bribery and other violations of the Foreign Corrupt Practices Act (FCPA) between 2000 and 2016. The agency found high-level personnel were involved in the misconduct, which took place in China, Indonesia, Kuwait, and Vietnam. A similar investigation by the Securities and Exchange Commission (SEC) found corrupt activities by Ericsson in Saudi Arabia.
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News and analysis for the well-informed compliance or audit exec.
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2024-06-03T18:48:00Z By Aaron Nicodemus
Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.
2023-10-03T19:46:00Z By Jeff Dale
Swedish telecommunications company Ericsson announced the appointment of Jan Sprafke as its full-time chief compliance officer.
2023-08-11T14:52:00Z By Kyle Brasseur
Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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