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Violation Tracker Individual Record

Company: Ericsson
Current Parent Company: Ericsson
Penalty: $539,000,000
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: Ericsson agreed to pay $539 million to resolve SEC allegations of engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in multiple countries. At the same time, the company agreed to pay $520 million to the Justice Department to resolve criminal allegations (see separate entry).
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
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)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.