Ericsson announced late Friday afternoon that it had agreed to pay $1.06 billion in fines to U.S. regulators after pleading guilty to bribery charges.
From 2000 to 2016, Ericsson doled out tens of millions of dollars to bribe government officials in Africa and the Middle East, as well as to customers in China. As part of the settlement announced on Friday, Ericsson entered into a three-year agreement with the U.S. Department of Justice (DoJ) to resolve chargers of violating the anti-bribery, books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA.)
