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Diebold Inc Settles U.S. Bribery Charges For $48 Million-Reuters

Tuesday, 22 Oct 2013 11:42am EDT 

Reuters reported that Diebold Inc, agreed to pay more than $48 million to settle U.S. criminal and civil charges that it bribed officials in foreign countries to win business, the U.S. Securities and Exchange Commission said on October 22, 2013. The SEC said Diebold agreed to pay a $25.2 million fine in a criminal case brought by the U.S. Department of Justice. The company will pay an additional $22.9 million and appoint an independent compliance monitor to settle SEC charges over alleged misconduct from 2005 to 2010. According to the SEC, Diebold violated the U.S. Foreign Corrupt Practices Act when its units in China and Indonesia spent about $1.8 million on travel, entertainment and other gifts for senior officials at government-owned banks, hoping to influence the banks' purchasing decisions. It also said Diebold's unit in Russia from 2005 to 2008 paid about $1.2 million in bribes related to the sale of ATMs to private banks in that country. 

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-0.62 -1.76%
2 Jul 2015