Current:Home > StocksGerman software giant SAP fined more than $220M to resolve US bribery allegations -AssetTrainer
German software giant SAP fined more than $220M to resolve US bribery allegations
View
Date:2025-04-18 16:21:32
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! (6)
Related
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- The EPA says lead in Flint's water is at acceptable levels. Residents still have concerns about its safety.
- Tesla that fatally hit Washington motorcyclist may have been in autopilot; driver arrested
- Gold pocket watch found on body of Titanic's richest passenger is up for auction
- A South Texas lawmaker’s 15
- A Giant Plastics Chemical Recycling Plant Planned for Pennsylvania Died After Two Years. What Happened?
- 29 beached pilot whales dead after mass stranding on Australian coast; more than 100 rescued
- Watch smart mama bear save cub's life after plummeting off a bridge into a river
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Google plans to invest $2 billion to build data center in northeast Indiana, officials say
Ranking
- B.A. Parker is learning the banjo
- Roger Goodell wants NFL season to run to Presidents' Day – creating three-day Super Bowl weekend
- Chasing ‘Twisters’ and collaborating with ‘tornado fanatic’ Steven Spielberg
- Mississippi lawmakers consider new school funding formula
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Provost at Missouri university appointed new Indiana State University president, school says
- Gold pocket watch found on body of Titanic's richest passenger is up for auction
- 2024 NFL draft picks: Team-by-team look at all 257 selections
Recommendation
'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
NFL draft's most questionable picks in first round: QBs Michael Penix Jr., Bo Nix lead way
A rover captures images of 'spiders' on Mars in Inca City. But what is it, really?
Summer House Star Paige DeSorbo Uses This $10 Primer to Lock Her Makeup in Place
Intel's stock did something it hasn't done since 2022
American found with ammo in luggage on Turks and Caicos faces 12 years: 'Boneheaded mistake'
Worried about a 2025 COLA? This is the smallest cost-of-living adjustment Social Security ever paid.
Pilot on Alaska fuel delivery flight tried to return to airport before fatal crash: NTSB