VimpelCom reaches $795 million resolution with U.S., Dutch authorities
Amsterdam-based VimpelCom Limited, the world’s sixth-largest telecommunications company, and its wholly owned Uzbek subsidiary, Unitel LLC, entered into resolutions with the DOJ, SEC, and Dutch authorities Thursday for paying more than $114 million in bribes to a government official in Uzbekistan between 2006 and 2012 for access to the country's telecommunications market.
The settlement requires VimpelCom to pay a $230.1 million criminal penalty to the DOJ, $167.5 million in disgorgement and pre-judgment interest to the SEC, and $397.5 million to Dutch prosecutors.
The U.S. penalties of $397.6 million make Thursday's resolution the sixth biggest Foreign Corrupt Practices Act enforcement action.
No comments:
Post a Comment