Alcatel to Pay $137 Million to Settle Bribery Charges

Alcatel has agreed to pay more than $137 million to settle charges of bribery brought against it by the federal government.

The US Securities and Exchange Commission accused the Paris-based telecommunications company of paying bribes to foreign government officials to secure business in Latin America and Asia illegally.

The company has agreed to pay more than $45 million to settle the charges brought upon it by the SEC. It will also pay another $92 million to settle additional criminal charges announced by the US Justice Department.

According to the SEC complaint, Alcatel paid bribes to government employees in Costa Rica, Malaysia, Honduras and Taiwan between December 2001 and June 2006. The SEC said that the bribery payments were undocumented or improperly recorded.

Alcatel also bought US-based Lucent Technologies at the end of 2006.

In a statement, Alcatel said that they take responsibility for the actions and regret what happened. They said that they have implemented policies and procedures to prevent the violations in future.

The settlement is currently subject to court approval.

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