Current:Home > StocksGerman 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
View
Date:2025-04-15 20:38:36
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! (763)
Related
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- The U.S. Forest Service is taking emergency action to save sequoias from wildfires
- What The Climate Package Means For A Warming Planet
- How climate change drives inland floods
- As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
- Russia's War In Ukraine Is Hurting Nature
- Yellowstone National Park partially reopens after floods
- At least 25 people have died in Kentucky's devastating floods, governor says
- Former Danish minister for Greenland discusses Trump's push to acquire island
- It's Texas' hottest summer ever. Can the electric grid handle people turning up AC?
Ranking
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- A Below Deck Sailing Yacht Guest's Toilet Complaint Has Daisy Kelliher Embarrassed and Shocked
- Go Inside the Love Lives of Stranger Things Stars
- California wildfires prompt evacuations as a heat wave bakes the West
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Jeremy Renner Reunites With Hospital Staff Who Saved His Life After Snowplow Accident
- Shawn Mendes and Ex Camila Cabello Reunite at Coachella 2023
- The Late Late Show With James Corden Shoots Down One Direction Reunion Rumors
Recommendation
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
The Exact Moment Love Is Blind’s Paul Decided What to Tell Micah at Altar
These hurricane flood maps reveal the climate future for Miami, NYC and D.C.
Your Ultimate Guide to Finding the Best Sunscreen, According to a Dermatologist
Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
Renewable energy is maligned by misinformation. It's a distraction, experts say
Once Again Ryan Reynolds and Blake Lively Prove to Be the King and Queen of Trolling
Use This $10 Brightening Soap With 12,300+ 5-Star Reviews to Combat Dark Spots, Acne Marks, and More