Ericsson pays $206.7 million fine to settle Iraq corruption charges : Ericsson has pleaded guilty to charges relating to allegations of corruption in Iraq and paid a fine of $206,728,848 to settle the matter.
The plea and fine conclude a Department of Justice Deferred Prosecution Agreement (DPA) which Ericsson entered into in 2019 to resolve violations relating to conduct in several countries between 2010 and 2016.
The violations were connected with Ericsson employees in Iraq who allegedly paid protection money to terror groups including ISIS. The money enabled Ericsson to use unofficial roads and routes controlled by ISIS
Ericsson stated: “Since the start of the DPA, the DOJ has not alleged or charged Ericsson with any new criminal misconduct, and no new illegal conduct has been alleged or charged today.”
“As previously announced in October 2021 and March 2022, however, the DOJ notified Ericsson that it had failed to provide documents and information to the DOJ in a timely manner and had not adequately reported to the DOJ information relating to a 2019 Iraq-related internal investigation.”