The Wall Street Journal reported today that IBM has agreed to settle bribery charges with SEC for $10 million. This came from a "a decade-long campaign of bribery in Asia, saying employees handed over shopping bags stuffed with cash in South Korea and arranged junkets for government officials in China in exchange for millions of dollars in contracts." The settlement included $5.3 million in disgorged profit, $2.7 million in interest and a penalty of $2 million. The payment is relatively small for an FCPA civil case, which may reflect that the alleged bribes, while pervasive, weren't very large.
However, the International Business Machines Corp. has neither admitted nor denied the charges.
No comments:
Post a Comment