December 06, 2019

Telefonaktiebolaget LM Ericsson


SANCTION AMOUNT: Approximately $539 million

Defendants: Telefonaktiebolaget LM Ericsson

Defendant, a Sweden-based multinational telecomm, allegedly engaged in a large-scale bribery scheme involving the use of sham consultants and other tactics to secretly funnel money to government officials in Saudi Arabia, China, Djibouti, Vietnam, Indonesia and Kuwait. The SEC found that hundreds of millions of dollars in profits were reaped from the scheme. Defendant agreed to settle the charges.

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