IBM pays $10 m to settle case

The US Securities & Exchanges Commission alleged employees of IBM Korea and a local joint venture with LG Electronics paid around $207,000 in bribes to South Korean government officials.

The violations of Foreign Corrupt Practices Act took place between 1998 through 2009, SEC said. The two sides, however, settled with IBM paying a civil penalty of $2 million plus $8 million in other payments. IBM did not admit or deny the allegations.

Narendra Modi or Rahul Gandhi? Who will win the battle royale of the Lok Sabha Elections 2019

Get real-time news updates, views and analysis on Lok Sabha Elections 2019 on 

Like us on Facebook or follow us on Twitter and Instagram with #DHPoliticalTheatre for live updates on the Indian general elections 2019.

Liked the story?

  • 0

  • 0

  • 0

  • 0

  • 0