Ericsson will pay over $1 billion to settle US corruption charges

The settlement leaves Ericsson largely free of criminal convictions that could have led to sanctions and other stiff penalties, although its Egyptian branch pleaded guilty to violating the FCPA. It’s paying about $520.6 million to the DOJ, while the remaining $539.9 million goes to the SEC. For contrast, companies like HP have paid ‘just’ tens of millions to settle smaller bribery charges.

Ericsson chief Borje Ekholm (who took the role in January 2017) told the media that he considered the corruption “completely unacceptable,” pointing out that some of those involved were executives. The company also said it had taken steps to improve both its ethics and its monitoring.

The deal likely won’t make everyone happy. Ericsson’s behavior went on for the better part of two decades, but the company will largely be off the hook — the company said it could handle the settlement with “available funds.” Still, the payout is significant enough that it might give other tech firms pause if their anti-corruption policies are lax.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

For a Hedge Against Inflation - Click the Rocket!

E-Crypto News Executive Interviews

Blockchain/Cryptocurrency Questions and Answers

Crypto Tax
Crypto Tax Software Developers Get Serious about Standards
February 2, 2023
What Is The Nexo Coin (NEXO)?
What Is The Nexo Coin (NEXO)?
February 2, 2023
Stressed about crypto
The Worst Places in the World to Buy and Hold Crypto
January 27, 2023
What Are Crypto Index Funds?
What Are Crypto Index Funds?
January 19, 2023
money
Can You Make Money Anymore With Crypto in 2023?
January 13, 2023

Automated trading with HaasBot Crypto Trading Bots


CryptoCurrencyUSDChange 1hChange 24hChange 7d
? --- 0.00 % 0.00 %

bitcoin
Bitcoin (BTC) $ 22,821.11
ethereum
Ethereum (ETH) $ 1,630.42
tether
Tether (USDT) $ 0.999685
bnb
BNB (BNB) $ 326.59
usd-coin
USD Coin (USDC) $ 0.998688
xrp
XRP (XRP) $ 0.397474
binance-usd
Binance USD (BUSD) $ 0.999072
cardano
Cardano (ADA) $ 0.391682
dogecoin
Dogecoin (DOGE) $ 0.092244
okb
OKB (OKB) $ 44.17