Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to re...
) has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday.
The company admitted it had conspired with others to violate the Foreign Corrupt Practices Act from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls, the Justice Department said in a statement.
Pleading guilty can bring additional severe sanctions, including the revoking of licenses, but the company can negotiate waivers to ensure they can continue to operate. It has said previously it was cooperating with U.S. authorities and that it would make a $1.2 billion provision in relation to the probes.
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