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Telia settles U.S., European bribery probes for $965.8 million

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Staff 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
The settlements, including an Uzbek unit’s guilty plea to a bribery charge, resolve probes by the U.S. Department of Justice, the U.S. Securities and Exchange Commission and Dutch prosecutors of the Stockholm-based company.

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.