April 24, 2017 / 3:40 PM / 3 years ago

Former Magyar Telekom executives settle FCPA charges with U.S. SEC

WASHINGTON (Reuters) - Two former executives at the Hungarian telecommunications company Magyar Telekom will pay financial penalties and accept corporate officer and director bars to settle alleged anti-bribery law violations, U.S. regulators said Monday.

The settlement between the Securities and Exchange Commission and the company’s former CEO Elek Straub and former chief strategy officer Andras Balogh come after the company settled related criminal and civil Foreign Corrupt Practices Act charges back in December 2011.

Reporting by Sarah N. Lynch; Editing by Chizu Nomiyama

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