December 09 - 13:12
Ericsson to pay more than $1bn over bribery allegations
Ericsson has agreed to pay more than $1bn to settle allegations of bribery. The Department of Justice said: "Ericsson has admitted to a years-long campaign of corruption in five countries to solidify its grip on telecommunications business". It will pay a criminal penalty of $520 million and approximately $540 million to be paid to the U.S. Securities and Exchange Commission.
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