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Swedish Ericsson agrees to pay over a billion dollars to corruption accusations

the Swedish network company Ericsson agrees to pay more than a billion dollars to have been made against corruption accusations, says the us department of justice.

u.s. according to the prosecution, Ericsson has granted year-long corruption campaign a total of five in the country in order to strengthen its grip on the telecommunications market.

– ericsson's corruption activities was accompanied by high-level leaders and actions spanned 17 years and at least five countries, and all of this was a misguided attempt to increase profits, the Us justice department of criminal department director of Brian Benczkowski said in the statement.

Prosecutors according to the years 2000-2016 Ericsson intrigue, inter alia, the bribes paid to and accounting distortions, as in China, Indonesia, Vietnam, Kuwait and Djibouti.

"I Am shocked by these past failures"

Ericsson was expecting large payments, as the company already told me earlier she made a 12 billion crowns, or around 1.1 billion euro provision to cover the corruption investigation penalties. The company has in 2013 made the Us authorities with the cooperation of corruption in the tangle of investigation.

It is, inter alia, granted that ethical codes have been violated and, for example, internal control weaknesses. Ericsson has also admitted that it has directed tens of millions of dollars in China the authorities of the gifts, travel and entertaining, so it wins the state-owned company contracts.

Also, ericsson's egyptian subsidiary issued on Friday, the Us federal court guilty to violations.

Ericsson released a statement, where it says, inter alia, that he agreed to an independent evaluation. The company also reported its commitment to substantial reform of internal controls and ethical guidelines.

I'm shocked by these past failures. Agreement of the american authorities makes it possible that we can close this chapter. Can we move on now and build a stronger company, the ceo Börje Ekholm said in the statement.

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