Current:Home > InvestGerman software giant SAP fined more than $220M to resolve US bribery allegations -Profound Wealth Insights
German software giant SAP fined more than $220M to resolve US bribery allegations
View
Date:2025-04-17 11:27:36
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! (151)
Related
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- What is ‘Doge’? Explaining the meme and cryptocurrency after Elon Musk's appointment to D.O.G.E.
- Historian Doris Kearns Goodwin to kick off fundraising effort for Ohio women’s suffrage monument
- Kyle Richards Swears This Holiday Candle Is the Best Scent Ever and She Uses It All Year
- Could your smelly farts help science?
- New Orleans marks with parade the 64th anniversary of 4 little girls integrating city schools
- What Just Happened to the Idea of Progress?
- Smithfield agrees to pay $2 million to resolve child labor allegations at Minnesota meat plant
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Advance Auto Parts is closing hundreds of stores in an effort to turn its business around
Ranking
- The company planning a successor to Concorde makes its first supersonic test
- Today Reveals Hoda Kotb's Replacement
- Bankruptcy judge questioned Shilo Sanders' no-show at previous trial
- Burt Bacharach, composer of classic songs, will have papers donated to Library of Congress
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- 'America's flagship' SS United States has departure from Philadelphia to Florida delayed
- Padma Lakshmi, John Boyega, Hunter Schafer star in Pirelli's 2025 calendar: See the photos
- Pete Alonso's best free agent fits: Will Mets bring back Polar Bear?
Recommendation
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
'Treacherous conditions' in NYC: Firefighters battling record number of brush fires
Are Dancing with the Stars’ Jenn Tran and Sasha Farber Living Together? She Says…
Atlanta man dies in shootout after police chase that also kills police dog
Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
Two 'incredibly rare' sea serpents seen in Southern California waters months apart
Man is 'not dead anymore' after long battle with IRS, which mistakenly labeled him deceased
Man who stole and laundered roughly $1B in bitcoin is sentenced to 5 years in prison