Russian telecom pays $850 million to resolve FCPA offenses
Russia’s biggest mobile phone company will pay $850 million in penalties to the DOJ and SEC to resolve FCPA violations, the SEC and the company said Wednesday.
MTS agreed to the SEC’s order finding that it violated the anti-bribery, books and records, and internal accounting controls provisions of the FCPA and will pay a $100 million penalty to the SEC.
MTS and a subsidiary also entered into a deferred prosecution agreement with the DOJ. The subsidiary pleaded guilty in federal court.
The DOJ hadn’t released the criminal charging or settlement documents as of publication time.
According to the SEC release, MTS agreed to pay a criminal fine and forfeiture totaling $850 million. The DOJ will credit the $100 million SEC penalty.
The SEC settled the case through an internal administrative order (pdf) and didn’t go to court.
The FCPA Blog
http://www.fcpablog.com/blog/2019/3/6/russian-telecom-pays-850-million-to-resolve-fcpa-offenses.html