UPDATE 3-Ericsson agrees to pay over $1 billion to resolve U.S. corruption probes

6 Dec by Vitaliy Dadalyan

UPDATE 3-Ericsson agrees to pay over $1 billion to resolve U.S. corruption probes

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UPDATE 3-Ericsson agrees to pay over $1 billion to resolve U.S. corruption probesSwedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday. The total charges include a criminal penalty of more than $520 million, plus $540 million to be paid to the U.S. Securities and Exchange Commission (SEC) in a related matter. The company admitted it had conspired with others to violate the Foreign Corrupt Practices Act (FCPA) from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls, the Justice Department said in a statement.