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
Surpassing Quant Think Tank Center View
Date:2025-04-11 00:55:37
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! (2)
Related
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Did you get fewer trick-or-treaters at Halloween this year? Many say they did
- Baltimore couple plans to move up retirement after winning $100,000 from Powerball
- Pelosi bashes No Labels as perilous to our democracy and threat to Biden
- Senate begins final push to expand Social Security benefits for millions of people
- Cedar Fair and Six Flags will merge to create a playtime powerhouse in North America
- Hunter Biden: I fought to get sober. Political weaponization of my addiction hurts more than me.
- Man who blamed cancer on Monsanto weedkiller awarded $332 million
- Why members of two of EPA's influential science advisory committees were let go
- Israeli airstrikes target Hamas in Jabaliya refugee camp; Gaza officials say civilians killed
Ranking
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Tensions spike in Rio de Janeiro ahead of Copa Libertadores soccer final and after Copacabana brawl
- Most Arizona hospital CEOs got raises, made millions, during pandemic, IRS filings say
- Missouri man who carried pitchfork at Capitol riot pleads guilty to 3 felonies
- The Super Bowl could end in a 'three
- Russia steps up its aerial barrage of Ukraine as Kyiv officials brace for attacks on infrastructure
- What's Making Us Happy: A guide to your weekend viewing and listening
- As turkey prices drop, cost of some Thanksgiving side dishes go up, report says
Recommendation
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
A Pennsylvania nurse is now linked to 17 patient overdose deaths, prosecutors say
Starbucks holiday menu 2023: Here's what to know about new cups, drinks, coffee, food
A Pennsylvania nurse is now linked to 17 patient overdose deaths, prosecutors say
At site of suspected mass killings, Syrians recall horrors, hope for answers
Michigan fires Stalions, football staffer at center of sign-stealing investigation, AP source says
Toxic Pesticides Are Sprayed Next to Thousands of US Schools
NASA telescope reveals 7 new planets orbiting distant star hotter than the sun