Current:Home > FinanceGerman software giant SAP fined more than $220M to resolve US bribery allegations -FinanceAcademy
German software giant SAP fined more than $220M to resolve US bribery allegations
View
Date:2025-04-17 04:48:05
German software giant SAP will pay more than $220 million in fines to resolve U.S. bribery allegations involving payments to foreign government officials, the Justice Department said Wednesday.
According to court documents cited by the Justice Department, SAP and unnamed co-conspirators provided bribes and other valuable enticements to South African and Indonesian foreign officials. The company delivered gifts to officials in the form of cash payments, political contributions, electronic transfers, and luxury goods purchased during shopping trips.
The payments and gifts were offered “to obtain valuable government business,” Acting Assistant Attorney General Nicole Argentieri said in a statement.
The Securities and Exchange Commission also cited SAP “bribery schemes” in Malawi, Kenya, Tanzania, Ghana and Azerbaijan.
The Justice Department’s statement commended SAP for cooperating with the department’s investigation, taking steps to uncover the root causes of the bribery, and boosting resources for a restructured ethics and compliance office.
veryGood! (7935)
Related
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- How to watch the Geminid meteor shower this weekend
- When does the new season of 'Virgin River' come out? Release date, cast, where to watch
- OCBC chief Helen Wong joins Ho Ching, Jenny Lee on Forbes' 100 most powerful women list
- Highlights from Trump’s interview with Time magazine
- Donald Trump is returning to the world stage. So is his trolling
- PACCAR recalls over 220,000 trucks for safety system issue: See affected models
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
- Deadly chocolate factory caused by faulty gas fitting, safety board finds
Ranking
- 2025 'Doomsday Clock': This is how close we are to self
- This drug is the 'breakthrough of the year' — and it could mean the end of the HIV epidemic
- Epic Games to give refunds after FTC says it 'tricked' Fortnite players into purchases
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- The Daily Money: Now, that's a lot of zeroes!
- Atmospheric river and potential bomb cyclone bring chaotic winter weather to East Coast
- With the Eras Tour over, what does Taylor Swift have up her sleeve next? What we know
Recommendation
Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
Highlights from Trump’s interview with Time magazine
Military service academies see drop in reported sexual assaults after alarming surge
Apple, Android users on notice from FBI, CISA about texts amid 'massive espionage campaign'
New data highlights 'achievement gap' for students in the US
Australian man arrested for starting fire at Changi Airport
Donald Trump is returning to the world stage. So is his trolling
Federal appeals court takes step closer to banning TikTok in US: Here's what to know