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U.S. says Swiss engineering group ABB to pay over $315 mln to resolve bribery case

  • 📰 Reuters
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Swiss engineering and technology group ABB Ltd agreed to pay more than $315 million to resolve an investigation into a bribery case at a South African state-owned energy company, the U.S. Justice Department said on Friday.

The Justice Department said its resolution was coordinated with prosecutorial authorities in South Africa and Switzerland, as well as the U.S. Securities and Exchange Commission .

"ABB bribed a high-ranking official at South Africa's state-owned energy company in order to corruptly obtain confidential information and win lucrative contracts," the Justice Department added. "This is the department's first coordinated resolution with authorities in South Africa, where much of ABB's criminal scheme was carried out," the U.S. Justice Department said.

 

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Pay extortion to resolve bribery. lol Banksters.

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