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Friday, March 18, 2011

IBM bribery in China and South Korea was fined $ 10,000,000

According to foreign media reports, submitted under the March 18 court documents, IBM has agreed to pay $ 10,000,000 to its settlement of a civil settlement of charges, the allegation that his contract in order to obtain computer equipment, ongoing commercial bribery behavior.

"The Wall Street Journal," the first report of the U.S. Securities and Exchange Commission (SEC) is suing IBM laptop battery cash bribes, the report said IBM laptop battery in 1998-2003 to the South Korean government officials bribes in 2004-2009 bribes to Chinese government officials .

According to "The Wall Street Journal" reported, IBM laptop battery did not admit fault, but said it had set a higher staff moral standards, and has taken "appropriate remedial action."

U.S. Securities and Exchange Commission allegations that employees of the company's offices in Korea, 207,000 dollars to bribe government officials, to provide travel, entertainment and other activities, as well as cameras and laptop computers and other gifts in exchange for the Government to supply personal computers and mainframes contract.

U.S. Securities and Exchange Commission also said the allegations, IBM laptop battery offices in China, more than 100 employees and two executives, travel agents set up secret funds through accounts in the Chinese travel abroad pay the relevant government officials.

The survey was conducted to combat violations of U.S. Department of Justice, "Foreign Corrupt Practices Act" (Foreign Corrupt Practices Act) as part of act. Last year, the agency with Russian and German authorities join forces to investigate whether HP bribed Russian officials to obtain computer equipment contract.


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