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Violation Tracker Individual Record

Company: Ericsson
Current Parent Company: Ericsson
Penalty: $520,000,000
Year: 2019
Date: December 6, 2019
Offense Group: competition-related offenses
Primary Offense: Foreign Corrupt Practices Act
Secondary Offense: kickbacks and bribery
Mega-Scandal: Foreign Bribery
Violation Description: The Swedish telecommunications company Ericsson entered into a deferred prosecution agreement and agreed to pay $520 million to resolve a Justice Department investigation into violations of the Foreign Corrupt Practices Act arising out of the company's alleged scheme to make and improperly record tens of millions of dollars in improper payments around the world. An Ericsson subsidiary, Ericsson Egypt Ltd, pleaded guilty in the Southern District of New York to a one-count criminal information charging it with conspiracy to violate the anti-bribery provisions of the FCPA. A parallel civil case brought by the SEC, in which the company agreed to pay $539 million, is included in a separate entry.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: plea and deferred prosecution agreement
HQ Country of Current Parent: Sweden
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: telecommunications
Specific Industry of Current Parent: telecommunications
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.