Ericsson to pay $206 million fine, plead guilty to bribery violations

Swedish telecommunications giant Ericsson agreed to pay a $206 million penalty and pleaded guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act, U.S. prosecutors announced Thursday evening.

Ericsson had already paid a $520.6 million penalty in 2019 over what New York federal prosecutors said was a “yearslong campaign of corruption,” involving the bribery of government officials and the falsification of books and records in Djibouti, China, Vietnam, Indonesia and Kuwait. Additionally, the company paid about $540 million to the Securities and Exchange Commission.

Source: Ericsson to pay $206 million fine, plead guilty to bribery violations