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Browse: Home / 2012 / June / 28 / FalconStor to pay $5.8 mln to settle bribe charges

FalconStor to pay $5.8 mln to settle bribe charges

By Securities Docket on June 28, 2012, 12:40 pm

FalconStor Software Inc will pay $5.8 million to resolve criminal and civil charges that it bribed JP Morgan Chase Bank NA executives to obtain $12 million in software contracts, federal prosecutors said on Wednesday.

According to a criminal complaint filed in Brooklyn federal court, FalconStor offered more than $300,000 in restricted FalconStor shares, stock options, gambling vouchers, gift cards and golf perks to JP Morgan executives in Columbus, Ohio, in exchange for $12.2 million in software contracts.

via FalconStor to pay $5.8 mln to settle bribe charges — Reuters

Posted in Criminal, SEC, Top | Tagged FCPA, Settlements

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