The DOJ recently announced a resolution of the longstanding FCPA enforcement action involving Ericsson, a multinational networking and telecommunications equipment and services company headquartered in Sweden. The matter was stunning in the total amount of fines and penalties assessed, coming in at just over $1.06 billion, consisting of a criminal fine assessed by the DOJ at just over $520 million. Separately, the SEC assessed profit disgorgement of nearly $540 million.
Tom Fox provides an in-depth look at the details of the bribery scheme, the internal control failures, the penalties levied on Ericsson and what the compliance practitioner can learn from this enforcement action.
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