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Telia settles U.S., European bribery probes for $965.8 million

Staff Writer |
Telia agreed to pay $965.8 million to settle U.S. and European criminal and civil charges that the Swedish phone company paid bribes to win business in Uzbekistan.

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The settlements, including an Uzbek unit’s guilty plea to a bribery charge, resolve probes by the U.S. Department of Justice, the U.S. Securities and Exchange Commission and Dutch prosecutors of the Stockholm-based company.

Telia’s U.S. criminal settlement is the first major resolution of a foreign bribery case under the Foreign Corrupt Practices Act (FCPA) since Donald Trump, who has called that statute a “horrible law,” entered the White House.

More than half of the payout, $548.6 million, represents criminal penalties.

Telia said the accords resolve all known corruption-related investigations of the company, although Swedish prosecutors are still investigating possible misconduct by individuals.

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