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Harry Cassin
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Jessica Tillipman
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Richard L. Cassin
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Julie DiMauro
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Thomas Fox
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Eric Carlson
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Bill Steinman
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Feds close five-year FCPA probe of IBM

IBM said in an SEC filing that the DOJ and SEC have closed their FCPA investigations into transactions in Argentina, Bangladesh, Poland, and Ukraine.

The U.S. investigations started in early 2012 when IBM notified the SEC of a probe by the Polish Central Anti-Corruption Bureau.

The allegations involved illegal activity by a former IBM Poland employee in connection with sales to the Polish government.

The DOJ joined the investigation in early 2013 and expanded it to deals in Argentina, Bangladesh, and Ukraine.

The DOJ also sought information from IBM about its global FCPA compliance program and its public sector business.

FCPA Tracker alerted users Tuesday (July 25) to the SEC filing from IBM that said the U.S. probe is now closed.

The filing said in part,

In June 2017, the DOJ and the SEC each informed IBM that based on the information to date, they closed their respective investigations into these matters without pursuing any enforcement action against the company.

In March 2011, IBM reached a settlement with the SEC for FCPA accounting offenses based on improper cash payments to officials in China and Korea. IBM agreed to pay the SEC $10 million in penalties.

IBM’s July 25, 2017 SEC filing can be found on FCPA Tracker (subscription only).

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Richard L. Cassin is the publisher and editor of the FCPA Blog.

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