Violation Tracker Individual Record

Company: 
Ericsson
Current Parent Company: 
Ericsson
Penalty: 
$539,000,000
Year: 
2019
Date: 
December 6, 2019
Offense Group: 
competition-related offenses
Primary Offense: 
Foreign Corrupt Practices Act
Violation Description: 

Ericsson agreed to pay $539 million to resolve SEC allegations of engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in multiple countries. At the same time, the company agreed to pay $520 million to the Justice Department to resolve criminal allegations (see separate entry).

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Sweden
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
telecommunications
Specific Industry of Parent: 
telecommunications
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.