Arab Today, arab today us judge fines hp 59m for bribing russian officials
Last Updated : GMT 21:32:47
Arab Today, arab today
Arab Today, arab today

US judge fines HP $59m for bribing Russian officials

Arab Today, arab today

Arab Today, arab today US judge fines HP $59m for bribing Russian officials

HP Russia
San Francisco - AFP

A judge on Thursday ordered US computer giant Hewlett-Packard to pay $58.8 million for bribing Moscow government officials to win a big-money contract with Russia's prosecutor general's office.
Northern California US District Judge Lowell Jensen hit HP with the fine after the company pleaded guilty to violating anti-bribery and accounting provisions of the Foreign Corrupt Practices Act, the US Department of Justice said in a release.
According to a negotiated plea bargain, executives in an HP Russia subsidiary created a multi-million-dollar slush fund, from which money was used to bribe Russian officials who awarded the company a $45 million (35 million euro) contract with the Office of the Prosecutor General of Russia.
"Hewlett Packard's Russia subsidiary used millions of dollars in bribes from a secret slush fund to secure a lucrative government contract," principal deputy assistant attorney general Marshall Miller of the Justice Department's Criminal Division said in a release.
"Even more troubling was that the government contract up for sale was with Russia's top prosecutor's office," he said.
- Bribes in Russia, Poland, Mexico -
The plea deal came as part of an agreement by HP in April to pay a total of $108 million to settle investigations that it paid bribes to win public contracts in Russia, Poland and Mexico.
The settlement covers criminal and civil investigations under the Foreign Corrupt Practices Act, according to a statement from the US Securities and Exchange Commission.
According to authorities, the California company's subsidiary in Russia paid more than $2 million in bribes through agents and various shell companies, using two sets of books and secret spreadsheets to keep track of affairs.
"For more than a decade HP Russia business executives participated in an elaborate scheme that involved paying bribes to government officials in exchange for large contracts," FBI Washington field office assistant director-in-charge Andrew McCabe said in a release.
In Poland, gifts and cash bribes worth more than $600,000 were paid to a Polish government official to obtain contracts with the national police agency.
And in Mexico, HP paid more than $1 million in commissions to a consultant to win a software sale to Mexico's state-owned petroleum company Pemex, and some of that money was funneled to a company official.
SEC investigators in April said HP lacked internal controls and allowed the bribes to be recorded "as legitimate commissions and expenses."
According to US officials, the bribes in Mexico were paid from 2008 to 2009, in Poland from 2006 to 2010 and in Russia from 2000 to 2007.
HP acknowledged the settlement in a separate statement in April and noted that it calls for "certain compliance, reporting and cooperation obligations."
"The misconduct described in the settlement was limited to a small number of people who are no longer employed by the company," said John Schultz, executive vice president and general counsel for the company.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us judge fines hp 59m for bribing russian officials Arab Today, arab today us judge fines hp 59m for bribing russian officials

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday