Ericsson pays over $1bn to settle US corruption probe

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A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1 billion to resolve a long-running US corruption investigation involving payoffs in Asia and the Middle East. The Stockholm-based company admitted to a years-long campaign of corruption aimed at solidifying its grip on the telecommunications business, US Attorney Geoffrey S. Berman in Manhattan said in announcing the settlement that outlined tens of millions of dollars in illicit payments in five countries.


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