- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-12-06T17:31:00
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice (DOJ) to settle allegations that it bribed officials in South Africa to win consulting contracts.
McKinsey & Co. Africa will pay the criminal penalty to resolve the DOJ investigation into a scheme to pay bribes to officials at South African government-owned entities Transnet and Eskom between 2012-16, earning the company approximately $85 million, the DOJ said Thursday in a press release.
The DOJ said it would credit up to one-half of the fine total against penalties the firm was ordered to pay by South African courts for the same violations. McKinsey and McKinsey Africa repaid “all revenues … received from potentially tainted contracts” in 2018 and 2021, the DOJ said.
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