SWEDEN’S ERICSSON ON HOOK FOR USD206 MILLION FINE AFTER BREACHING USA DPA TERMS
March 21st, 2023
Swedish telecommunications major Ericsson has agreed to plead guilty to past accusations of bribes, falsifying books and records, after accepting it had breached a USA deferred prosecution agreement (DPA). It will now have to pay an additional criminal penalty exceeding USD206 million. The company has accepted that it has failed to truthfully disclose all facts and evidence related to the case, as required under the 2019 agreement, which stayed a prosecution under the USA Foreign Corrupt Practices Act (FCPA). The company had used third-party agents to ...
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