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