Swedish telecoms firm Ericsson has agreed to pay more than $1 billion to resolve allegations of bribery in countries around the world, the US Justice Department announced Friday.
An Egyptian subsidiary also pleaded guilty in a federal court in New York to a charge of conspiring to violate the 1977 Foreign Corrupt Practices Act.
"Today, Swedish telecom giant Ericsson has admitted to a years-long campaign of corruption in five countries to solidify its grip on telecommunications business," US Attorney Geoffrey Berman of Manhattan said in a statement.
Published 07 December 2019, 03:36 IST