Telia settles U.S., European bribery probes for $965.8 millionStaff Writer | September 22, 2017
Telia agreed to pay $965.8 million to settle U.S. and European criminal and civil charges that the Swedish phone company paid bribes to win business in Uzbekistan.
Technology U.S. criminal settlement
Telia’s U.S. criminal settlement is the first major resolution of a foreign bribery case under the Foreign Corrupt Practices Act (FCPA) since Donald Trump, who has called that statute a “horrible law,” entered the White House.
More than half of the payout, $548.6 million, represents criminal penalties.
Telia said the accords resolve all known corruption-related investigations of the company, although Swedish prosecutors are still investigating possible misconduct by individuals. ■