Current:Home > InvestGerman software giant SAP fined more than $220M to resolve US bribery allegations-DB Wealth Institute B2 Expert Reviews
German software giant SAP fined more than $220M to resolve US bribery allegations
View Date:2025-01-11 07:26:54
German software giant SAP will pay more than $220 million in fines to resolve U.S. bribery allegations involving payments to foreign government officials, the Justice Department said Wednesday.
According to court documents cited by the Justice Department, SAP and unnamed co-conspirators provided bribes and other valuable enticements to South African and Indonesian foreign officials. The company delivered gifts to officials in the form of cash payments, political contributions, electronic transfers, and luxury goods purchased during shopping trips.
The payments and gifts were offered “to obtain valuable government business,” Acting Assistant Attorney General Nicole Argentieri said in a statement.
The Securities and Exchange Commission also cited SAP “bribery schemes” in Malawi, Kenya, Tanzania, Ghana and Azerbaijan.
The Justice Department’s statement commended SAP for cooperating with the department’s investigation, taking steps to uncover the root causes of the bribery, and boosting resources for a restructured ethics and compliance office.
veryGood! (34892)
Related
- Ex-Duke star Kyle Singler draws concern from basketball world over cryptic Instagram post
- Democrats' total control over Oregon politics could end with the race for governor
- Victoria Justice Sets Record Straight on Claim She's Jealous of Ariana Grande
- The first satellites launched by Uganda and Zimbabwe aim to improve life on the ground
- Sydney Sweeney Slams Women Empowerment in the Industry as Being Fake
- A stubborn La Nina and manmade warming are behind recent wild weather, scientists say
- Earth Day 2023: Shop 15 Sustainable Clothing & Home Brands For Effortlessly Eco-Friendly Style
- Republicans get a louder voice on climate change as they take over the House
- Trump is likely to name a loyalist as Pentagon chief after tumultuous first term
- Polar bears in a key region of Canada are in sharp decline, a new survey shows
Ranking
- 'Devastation is absolutely heartbreaking' from Southern California wildfire
- U.N. plan would help warn people in vulnerable countries about climate threats
- A guide to the types of advisories issued during hurricane season
- 14 Armenian-Owned Brands to Support Now & Always
- FBI raids New York City apartment of Polymarket CEO Shayne Coplan, reports say
- Love Is Blind: These 2 Couples Got Engaged Off Camera in Season 4
- The U.N. chief tells the climate summit: Cooperate or perish
- Heat Can Take A Deadly Toll On Humans
Recommendation
-
Tony Hinchcliffe refuses to apologize after calling Puerto Rico 'garbage' at Trump rally
-
We're Obsessed With the Mermaidcore Aesthetic for Summer: 17 Wearable Pieces to Take on the Trend
-
Can a middle school class help scientists create a cooler place to play?
-
Hailey Bieber Recalls Facing Saddest, Hardest Moments in Her Life Since Start of 2023
-
Statue of the late US Rep. John Lewis, a civil rights icon, is unveiled in his native Alabama
-
Attention, #BookTok, Jessica Chastain Clarifies Her Comment on “Not Doing” Evelyn Hugo Movie
-
Love Is Blind’s Kwame Addresses Claim His Sister Is Paid Actress
-
This On-Sale Amazon Dress With 17,000+ 5-Star Reviews Is the Spring Look of Your Dreams