SAP pays over $230 million to settle bribery allegations.

SAP has twice settled bribery allegations with US authorities. (Photo: Reuters)

On January 10th, the US Department of Justice announced the above information. Additionally, SAP will enter into a three-year deferred prosecution agreement with federal prosecutors who accuse SAP of violating the Foreign Corrupt Practices Act. According to prosecutors, SAP bribed government officials in Indonesia and South Africa.

“SAP bribed officials at state-owned enterprises in South Africa and Indonesia to obtain valuable government business,” said Nicole Argentieri, acting assistant minister for justice.

According to a statement from the Department of Justice, SAP and its employees bribed officials in both countries with cash, political donations, and luxury goods.

SAP also had to pay $98 million to the U.S. Securities and Exchange Commission (SEC). The SEC alleged that SAP recorded bribe payments to officials in Azerbaijan, Ghana, Indonesia, Malawi, Kenya, and South Africa in its own books as "legitimate business expenses."

In total, SAP had to pay more than $235 million.

This is one of the world's largest bribery settlements, according to CNBC . It is also the second time SAP has settled bribery allegations with US authorities. In 2016, the company had to pay $3.7 million to the SEC due to a bribery scheme in Panama.

An SAP spokesperson said the agreements closed all ongoing compliance investigations in the U.S. and South Africa. “The past conduct of former colleagues and partners does not reflect SAP’s values ​​or ethical commitment,” the spokesperson said.

(According to CNBC)

Source: https://vietnamnet.vn/sap-tra-hon-230-trieu-usd-dan-xep-cao-buoc-hoi-lo-2238036.html