Current:Home > MarketsGerman software giant SAP fined more than $220M to resolve US bribery allegations -Summit Capital Strategies
German software giant SAP fined more than $220M to resolve US bribery allegations
View
Date:2025-04-11 17:19:05
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! (34)
Related
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Fantasy football meets Taylor Swift in massive 'Swiftball' competition
- I was wrong: Taylor Swift-Travis Kelce romance isn't fake. Apologies, you lovebirds.
- Meryl Streep presents Grammys record of the year, hilariously questions award category
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- North Korea fires multiple cruise missiles into the sea, extending recent testing spree
- Richard Caster, a 3-time Pro Bowl tight end and wide receiver for the Jets, dies at 75
- Marilyn Manson completes mandated Alcoholics Anonymous after blowing nose on videographer
- What to watch: O Jolie night
- Father of Chiefs star Patrick Mahomes arrested in Texas on suspicion of drunk driving
Ranking
- New data highlights 'achievement gap' for students in the US
- Is The Current Hurricane Warning System Outdated?
- You can order a test to find out your biological age. Is it worth it?
- Detroit father of 6 dies days after being mauled by 3 dogs: family says
- How to watch new prequel series 'Dexter: Original Sin': Premiere date, cast, streaming
- Fantasy football meets Taylor Swift in massive 'Swiftball' competition
- We Can’t Stop Looking at Photos of Miley Cyrus and Boyfriend Maxx Morando’s Grammys Date
- Pennsylvania governor to deliver budget while seeking money for higher education and public transit
Recommendation
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
North Korea fires multiple cruise missiles into the sea, extending recent testing spree
Second atmospheric river in days churns through California, knocking out power and flooding roads
Miley Cyrus just won the first Grammy of her career
Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
When does daylight saving time start? What is it? Here's when to 'spring forward' in 2024
Sylvester Stallone pays emotional tribute to Carl Weathers, Apollo Creed in 'Rocky'
2026 FIFA World Cup final to be played at MetLife Stadium