Michaela Ahlberg created a compliance program from scratch when she was hired in 2013 by Swedish telecommunications firm Telia following allegations of corruption in its foreign business dealings.… Continue Reading
Since the FCPA became law in December 1977, the DOJ has brought about 300 enforcement actions. Which one is the most important?
Telia. The biggest by our measure was this year’s action against Telia Company AB of Sweden, with global penalties amounting to $965 million.… Continue Reading
Telia Company AB’s $965.6 million settlement Thursday included disgorgement to the SEC of $457 million, the biggest disgorgement ever ordered in an FCPA enforcement action.
Telia won’t actually pay the SEC $457 million in dsgorgement, however.… Continue Reading
Sweden’s Telia Company AB agreed Thursday with the DOJ and SEC to pay total penalties of $965 million to resolve FCPA offenses in Uzbekistan.
Prior to Thursday, the biggest FCPA settlement on record was Siemens’ $800 million resolution in 2008, when it paid the DOJ $450 million in criminal penalties and the SEC $350 million in disgorgement.… Continue Reading
The SEC said in an enforcement order Thursday that Sweden’s Telia Company AB will disgorge $457 million to resolve FCPA violations in Uzbekistan.
Combined with $548.6 million in criminal penalties against the company reflected Thursday in court filings by the DOJ, less a $40 million offset, Telia will pay $965 million for the settlement.… Continue Reading
Swedish telephone firm Telia Company AB agreed Thursday to pay $548.6 million in criminal penalties to resolve FCPA offenses in Uzbekistan.
An Uzbek subsidiary, Coscom LLC, agreed separately to plead guilty.… Continue Reading
Dutch prosecutor Miranda van Turennout will deliver the keynote speech at GIR Live in Washington, DC on February 16.
Turennout, a senior prosecutor at the Dutch Public Prosecutor’s Office (OM), is currently leading a Dutch investigation into allegations that Swedish telecoms company Telia paid bribes to Uzbek officials for access to the country’s telecoms market.… Continue Reading
For many years the Dutch government lagged behind countries like the United States, the UK and Germany enforcing anti-corruption laws. But that has recently changed in a dramatic way.
Sweden’s Telia Company said in a quarterly report released Friday that it has recorded a provision of $1.45 billion to settle investigations by U.S. and Dutch authorities of bribery in Uzbekistan. … Continue Reading
Sweden’s Telia Company said Thursday it received a proposal from U.S. and Dutch authorities to pay $1.4 billion to settle allegations of overseas bribery.… Continue Reading
Telecoms company VimpelCom said in a statement Tuesday it will take a provision of $900 million for an investigation by U.S. and Dutch authorities of its business in Uzbekistan and dealings with an offshore company linked to the daughter of the Uzbek president.… Continue Reading
The U.S. Justice Department took another big step in its investigation of bribes allegedly paid by Russian and Swedish companies to the eldest daughter of Uzbek President Islam Karimov in exchange for access to the country’s telecoms market.… Continue Reading