Skip to Content

Ericsson to pay $206M for breaking US deal in bribery case

KIFI

STOCKHOLM (AP) — Swedish telecom equipment maker Ericsson has agreed to plead guilty to U.S. foreign corruption violations and pay more than $206 million for breaking a deal with the Justice Department over charges of bribery and falsifying records in countries from China to Kuwait. The U.S. Justice Department said Thursday that the Stockholm-based company violated a 2019 agreement by failing to provide documents and information the agency needed for its investigation and to bring charges against individuals accused of misconduct. Prosecutors say Ericsson used intermediaries to bribe government officials and manage illicit stashes of cash in Djibouti, China, Vietnam, Indonesia and Kuwait. Ericsson says it’s committed to improved oversight and is “on an important journey to transform our culture.”

Article Topic Follows: AP National Business

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content