Alcatel agrees to settle bribery case


  • Business
  • Wednesday, 29 Dec 2010

WASHINGTON: Alcatel Lucent SA has agreed to pay more than US$137mil to settle US charges that it paid millions of dollars in bribes to foreign officials to win business in Latin America and Asia, US authorities said on Monday.

The telecommunications equipment maker was accused of making payments to government officials in countries including Costa Rica, Honduras, Taiwan and Malaysia to win or keep contracts worth tens of millions of dollars, the Securities and Exchange Commission and Justice Department said.

Between December 2001 and June 2006, the company used consultants who funneled more than US$8mil in bribes to officials, and Alcatel also improperly hired third-party agents in countries like Nigeria to help win deals, authorities said. — Reuters

Overall, the company admitted it earned about US$48.1mil in profits as a result of the improper payments, the Justice Department said. — Reuters

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