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Ericsson pleads guilty to corruption charges in US, agrees to pay $1 bn

Ericsson said it had reviewed its anti-corruption program and taken measures to improve its ethics and compliance.

Ericsson | corruption | United States

Reuters  |  Washington 

Swedish 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 bribery took place over many years in countries including China, Vietnam and Djibouti, the department said. 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 ...

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First Published: Sat, December 07 2019. 15:28 IST