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Former Ericsson Employee Charged In Foreign Bribery Scheme: U S DoJ
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Former Ericsson employee charged for role in foreign bribery scheme
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On Wednesday, May 12, 2021, Swedish telecommunications manufacturer Ericsson announced that it had reached an €80 million ($96.66 million) settlement with one of its competitors to compensate for commercial damages the competitor suffered as a victim of Ericsson’s corruption scheme.
1
As background, on Nov. 26, 2019, Ericsson resolved a U.S. Foreign Corrupt Practices Act (FCPA) enforcement action by entering into a deferred prosecution agreement (DPA)
2 with the Department of Justice (DOJ), settling a civil complaint brought by the Securities and Exchange Commission (SEC), and agreeing to pay $1.06 billion in fines and penalties.