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Alcatel to pay $137M to settle bribery charges

Alcatel to pay $137M to settle bribery charges

Alcatel-Lucent SA has agreed to pay more than $137 million to settle charges brought against it by the federal government.

The Securities and Exchange Commission accused the Paris-based maker of telecommunications gear of paying bribes to foreign government officials to illegally win business in Latin America and Asia.

Alcatel, a top supplier to U.S. and European phone companies, agreed to pay more than $45 million to settle the SEC’s charges. It will pay an additional $92 million to settle separate criminal charges announced by the Justice Department.

The SEC’s complaint said Alcatel’s bribes went to government officials in Costa Rica, Honduras, Malaysia and Taiwan between December 2001 and June 2006. Alcatel bought U.S.-based Lucent Technologies at the end of 2006.

Read More/Source: Yahoo

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