Current:Home > StocksGerman software giant SAP fined more than $220M to resolve US bribery allegations -Global Finance Compass
German software giant SAP fined more than $220M to resolve US bribery allegations
View
Date:2025-04-15 04:38:44
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! (611)
Related
- Intel's stock did something it hasn't done since 2022
- Lithuania to issue special passports to Belarus citizens staying legally in the Baltic country
- Cowboys QB Dak Prescott's new tattoo honors late mom
- India forges compromise among divided world powers at the G20 summit in a diplomatic win for Modi
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Lithuania to issue special passports to Belarus citizens staying legally in the Baltic country
- Spanish soccer president Luis Rubiales resigns after nonconsensual kiss at Women’s World Cup final
- Several wounded when gunmen open fire on convoy in Mexican border town
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Google faces off with the Justice Department in antitrust showdown: Here’s everything we know
Ranking
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- Why autoworkers' leader is calling for a 4-day work week from Big 3 car makers
- Foreign student arrested in Norway on suspicion of espionage including electronic eavesdropping
- Why the United Auto Workers union is poised to strike major US car makers this week
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Explosion at Archer Daniels Midland facility in Illinois injures employees
- Olympic gold-medal figure skater Sarah Hughes decides against run for NY congressional seat
- Stock market today: Asian shares mostly higher as investors await US inflation, China economic data
Recommendation
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
USA Basketball result at FIBA World Cup is disappointing but no longer a surprise
Stock market today: Asian shares mostly higher as investors await US inflation, China economic data
Lauren Groff has a go bag and says so should you
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
Olympic gold-medal figure skater Sarah Hughes decides against run for NY congressional seat
Operation to extract American researcher from one of the world’s deepest caves advances to 700m
Russia’s election commission says the ruling party wins the most votes in occupied Ukrainian regions