US Company Fined Millions for Russian ATM Bribery Case

Author: us-russia
Comments: 0
US Company Fined Millions for Russian ATM Bribery Case
Published 25-10-2013, 15:29
WASHINGTON, October 23 (RIA Novosti) – US automated teller machine (ATM) manufacturer Diebold Inc. has been fined $48 million for bribing officials in Russia, China and Indonesia to illicitly sell its ATMs to banks in the three countries, the US Securities and Exchange Commission (SEC) has said.

In a statement released Tuesday, the SEC said that Diebold "falsified books and records to hide approximately $1.2 million of bribes paid to employees at privately owned banks in Russia" from 2005 to 2008.

"The bribes were funneled through a distributor in Russia using phony service contracts to hide and falsely record the payments as legitimate business expenses,” the SEC said.

The Ohio-based company is also accused of paying out $1.8 million for "travel, entertainment, and other improper gifts” for officials in China and Indonesia who had "the ability to influence the purchasing decisions” of government-owned banks.

The $48 million penalty imposed on the company will resolve both an SEC complaint filed against Diebold and a parallel criminal case in Ohio against the ATM manufacturer.

"In China, Indonesia and Russia, Diebold chose to pay bribes for business and falsify documents to cover its tracks,” Ohio Acting Assistant Attorney General Mythili Raman said in a statement.

"Through its corrupt business practices, Diebold undermined the sense of fair play that is critical for the rule of law to prevail,” Raman said.

 

RIA Novosti

Comments: 0
Experts' Panel
Any advice to Trump?
All those who have contributed to the Trump - Pence "Make America...
Any advice to Trump?
Top
popular in the journal
RUSSIAN FEDERATION SITREP 3...

RUSSIAN FEDERATION SITREP 3...

BALANCE. The first successful test of the Avangard hypersonic vehicle is announced. Super fast (Mach 27 they say) and highly manoeuvrable, development began when ...
Hell, Yes! Finally, Trump Is...

Hell, Yes! Finally, Trump Is...

Finally there's a glimpse of "America First" in Trump's Foreign Policy. Syria withdrawal is a good thing -- for the US
From Kerch Strait to Meeting With...

From Kerch Strait to Meeting With...

Russian President Vladimir Putin held his 14th annual end-of-the-year press conference on 20 December, having touched upon a wide array of issues, including relations ...
Donald Trump orders full...

Donald Trump orders full...

To readers who are estranged from the comfortable complacency of the political center and who were initially skeptical of the first media reports yesterday that Trump ...
Do Russiagate Promoters Prefer...

Do Russiagate Promoters Prefer...

  The year 2018 in the history of the new Cold War.