Ericsson pleads guilty in U.S. to federal bribery violations, agrees to pay $206 million fine
a $520.6 million penalty in 2019 over what New York federal prosecutors said was a "years-long campaign of corruption," involving the bribery of government officials and the falsification of books and records in Djibouti, China, Vietnam, Indonesia, and Kuwait. Additionally, the company paid about $540 million to the Securities and Exchange Commission.
Ericsson used outside consultants to pay bribes to government officials and manage off-the-books "slush funds" in all five countries, prosecutors said, using "sham contracts" and "false invoices" to obscure the nature of the funds,Ericsson employees in China caused "tens of millions of dollars" to be paid out to agents and consultants, "at least a portion of which was used to provide things of value, including leisure travel and entertainment, to...
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