WASHINGTON, USA -- Swedish telecoms firm Ericsson has agreed to pay more than $1 billion to resolve allegations of bribery spanning Asia and the Middle East, the US Justice Department announced Friday. An Egyptian subsidiary also pleaded guilty in a federal court in New York to a charge of conspiring to violate the 1977 Foreign Corrupt Practices Act. "Ericsson's corrupt conduct involved high-level executives and spanned 17 years and at least five countries, all in a misguided effort to increase profits," Brian Benczkowski, head of the Justice Department's criminal division, said in a statement. US law grants jurisdiction over corruption by companies whose shares are sold on ...
Keep on reading: Sweden’s Ericsson to pay $1B over bribery allegations
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