Printer Friendly

US judge fines HP US$59m for bribing Russian officials.

A judge on September 12 ordered U.S. computer giant Hewlett-Packard to pay US$58.8 million for bribing Moscow government officials to win a big-money contract with Russia's prosecutor general's office.

Northern California US District Judge Lowell Jensen hit HP with the fine after the company pleaded guilty to violating anti-bribery and accounting provisions of the Foreign Corrupt Practices Act, the US Department of Justice said in a release.

According to a negotiated plea bargain, executives in an HP Russia subsidiary created a multi-million-dollar slush fund, from which money was used to bribe Russian officials who awarded the company a US$45 million contract with the Office of the Prosecutor General of Russia.

"Hewlett Packard's Russia subsidiary used millions of dollars in bribes from a secret slush fund to secure a lucrative government contract," principal deputy assistant attorney general Marshall Miller of the Justice Department's Criminal Division said in a release. "Even more troubling was that the government contract up for sale was with Russia's top prosecutor's office," he said.

News Agency I...IUIypress - 2001-2014 Provided by SyndiGate Media Inc. ( Syndigate.info ).

COPYRIGHT 2014 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:AKIpress News Agency
Geographic Code:4EXRU
Date:Sep 12, 2014
Words:183
Previous Article:Southerners reportedly suppose to move beginning of academic year to August 15.
Next Article:Turkmenistan to provide opportunity for promotion of peace process in Afghanistan under UN auspices -- Berdymuhammedov.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters