Latest News Site

News

Microsoft to pay $26mn in anti-bribery case

Microsoft to pay $26mn in anti-bribery case
July 23
08:09 2019

San Francisco, July 23 : Software giant Microsoft is reportedly set to pay $26 million to settle allegations that its four subsidiaries violated the Foreign Corrupt Practices Act (FCPA).

The settlement comes to resolve charges that its employees bribed government officials in Hungary.

The company as a corporation, however, was not involve in any corrupt practice but a group of staffers in Hungary sold Microsoft products to local resellers at a discounted prices, and those partners, in turn, sold the same products to the Hungarian government at high prices.

They used the difference to bribe Hungarian government officials, said a report in mspoweruser.com on Monday.

The settlement comes after a report published in 2018 in Wall Street Journal said that the US Justice Department and the Securities and Exchange Commission were investigating whether Microsoft sold discounted software to Hungarian middlemen who sold it to the country’s government at inflated prices from 2013-2015, according to the Gizodo.

Meanwhile, Microsoft has fired its staffers who were involved in this bribery act and has also terminated the contracts with the resellers involved.

IANS

 

$10mn Microsoft project focuses on Artificial Intelligence for cultural heritage

TBZ
G.E.L Shop Association
Novelty Fashion Mall
Status
Akash
Swastik Tiles
Reshika Boutique
Paul Opticals
Metro Glass
Krsna Restaurant
Motilal Oswal
Chotanagpur Handloom
Kamalia Sales
Home Essentials
Raymond

About Author

admin_news

admin_news

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Only registered users can comment.

Sponsored Ad

SPONSORED ADS SPONSORED ADS SPONSORED ADS SPONSORED ADS SPONSORED ADS

LATEST ARTICLES

    Preacher held for rape of three minors

Preacher held for rape of three minors

Read Full Article