Current:Home > MarketsGerman software giant SAP fined more than $220M to resolve US bribery allegations -AssetLink
German software giant SAP fined more than $220M to resolve US bribery allegations
SignalHub Quantitative Think Tank Center View
Date:2025-04-11 05:55:10
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! (48)
Related
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Hollywood's Black List (Classic)
- RHONJ's Teresa Giudice Addresses Shaky Marriage Rumors Ahead of First Anniversary
- Gabby Douglas, 3-time Olympic gold medalist, announces gymnastics comeback: Let's do this
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Is the Controlled Shrinking of Economies a Better Bet to Slow Climate Change Than Unproven Technologies?
- US Blocks Illegal Imports of Climate Damaging Refrigerants With New Rules
- Titanic Director James Cameron Breaks Silence on Submersible Catastrophe
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Inside Clean Energy: In South Carolina, a Happy Compromise on Net Metering
Ranking
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Checking back in with Maine's oldest lobsterwoman as she embarks on her 95th season
- Cancer Shoppable Horoscope: Birthday Gifts To Nurture, Inspire & Soothe Our Crab Besties
- Yellowstone Creator Taylor Sheridan Breaks Silence on Kevin Costner's Shocking Exit
- Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
- Airbus Hopes to Be Flying Hydrogen-Powered Jetliners With Zero Carbon Emissions by 2035
- A Triple Whammy Has Left Many Inner-City Neighborhoods Highly Vulnerable to Soaring Temperatures
- Only Doja Cat Could Kick Off Summer With a Scary Vampire Look
Recommendation
All That You Wanted to Know About She’s All That
Kareem Abdul-Jabbar: There are times when you don't have any choice but to speak the truth
California woman released by captors nearly 8 months after being kidnapped in Mexico
Pennsylvania inmate captured over a week after making his escape
The 401(k) millionaires club keeps growing. We'll tell you how to join.
Kelly Clarkson Shares Insight Into Life With Her Little Entertainers River and Remy
Tens of millions across U.S. continue to endure scorching temperatures: Everyone needs to take this heat seriously
CNN's Don Lemon apologizes for sexist remarks about Nikki Haley