HP pays $108 mln to settle DOJ, SEC corruption probes

SAN FRANCISCO, April 9 Wed Apr 9, 2014 12:42pm EDT

SAN FRANCISCO, April 9 (Reuters) - Hewlett-Packard will pay $108 million and agreed to take on certain reporting and compliance obligations to settle a Justice Department and SEC investigation into potential violations of the Foreign Corrupt Practices Act.

The U.S. Department of Justice and the Securities and Exchange Commission have been conducting investigations into HP's conduct in Russia and Poland, among other countries. On Wednesday, Polish prosecutors alleged that a local HP executive paid bribes worth over $500,000 in exchange for help winning contracts to supply computer equipment to Polish police headquarters.

HP declined to comment on the specifics of that case. It did not elaborate on what obligations it agreed to take on in its settlement of the U.S. probes.

"The misconduct described in the settlement was limited to a small number of people who are no longer employed by the company," John Schultz, HP's executive vice president and general counsel said in a statement on Wednesday.

"HP fully cooperated with both the Department of Justice and the Securities and Exchange Commission in the investigation of these matters and will continue to provide customers around the world with top quality products and services without interruption." (Reporting by Edwin Chan; Editing by Bernard Orr)

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Comments (2)
debris-field wrote:
But yet again …. no one goes to jail. I wonder exactly how many crimes were committed this time? 50? 100? 500? More?

When crimes are committed within the highest levels of our government, or our corporations, or on Wall Street …. it is simple for these “too big to fail” leaders to get out of it. The formula has been the same for several years now: they simply take some of the free “TARP” money the Fed gave them, pay their tiny little fines, and then jump in their private jets and off they go to their homes in the Caribbean for a nice little 10 day vacation before hitting the slopes in the Alps for a few days after that.

The U.S. is a rigged game. Corruption and greed are the rule inside America’s highest leadership. The leadership on Wall Street, in the major media, in our military, and in our federal government are running these entities like a lawless mafia organization.

The entire financial system is faked and they have pushed $17 Trillion of debt into its citizens’ laps. The entire financial market is propped up – rigged – through the relentless printing of paper dollars … $80 billion per month … that gets secretly distributed into Wall Street firms.

Apr 09, 2014 4:37pm EDT  --  Report as abuse
debris-field wrote:
But yet again …. no one goes to jail. I wonder exactly how many crimes were committed this time? 50? 100? 500? More?

When crimes are committed within the highest levels of our government, or our corporations, or on Wall Street …. it is simple for these “too big to fail” leaders to get out of it. The formula has been the same for several years now: they simply take some of the free “TARP” money the Fed gave them, pay their tiny little fines, and then jump in their private jets and off they go to their homes in the Caribbean for a nice little 10 day vacation before hitting the slopes in the Alps for a few days after that.

The U.S. is a rigged game. Corruption and greed are the rule inside America’s highest leadership. The leadership on Wall Street, in the major media, in our military, and in our federal government are running these entities like a lawless mafia organization.

The entire financial system is faked and they have pushed $17 Trillion of debt into its citizens’ laps. The entire financial market is propped up – rigged – through the relentless printing of paper dollars … $80 billion per month … that gets secretly distributed into Wall Street firms.

Apr 09, 2014 5:29pm EDT  --  Report as abuse
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