(Bloomberg) — A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1 billion to resolve a long-running U.S. corruption investigation involving payoffs in Asia and the Middle East.The Stockholm-based company admitted to a years-long campaign of corruption aimed at solidifying its grip on telecommunications business, U.S. Attorney Geoffrey S. Berman in Manhattan said in announcing the settlement that outlined tens of millions of dollars in illicit payments in five countries.“Through slush funds, bribes, gifts and graft, Ericsson conducted telecommunications business with the guiding principle that ‘money talks,’” Berman said in …read more
Source:: Yahoo Finance
