- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-03-03T19:53:00
Swedish telecommunications company Ericsson agreed to pay nearly $207 million following two breaches of its 2019 deferred prosecution agreement (DPA) with U.S. authorities.
Ericsson breached its DPA by continuing the corrupt practices of “paying bribes, falsifying books and records, and failing to implement reasonable internal accounting controls in multiple countries,” the Department of Justice (DOJ) announced Thursday.
Ericsson was originally investigated by the DOJ for engaging in bribery and other violations of the Foreign Corrupt Practices Act (FCPA) between 2000 and 2016. The agency found high-level personnel were involved in the misconduct, which took place in China, Indonesia, Kuwait, and Vietnam. A similar investigation by the Securities and Exchange Commission (SEC) found corrupt activities by Ericsson in Saudi Arabia.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.
Swedish telecommunications company Ericsson announced the appointment of Jan Sprafke as its full-time chief compliance officer.
Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
