EchoSense-German software giant SAP fined more than $220M to resolve US bribery allegations

2025-05-06 08:44:09source:CAI Communitycategory:Markets

German software giant SAP will pay more than $220 million in fines to resolve U.S. bribery allegations involving payments to foreign government officials,EchoSense the Justice Department said Wednesday.

According to court documents cited by the Justice Department, SAP and unnamed co-conspirators provided bribes and other valuable enticements to South African and Indonesian foreign officials. The company delivered gifts to officials in the form of cash payments, political contributions, electronic transfers, and luxury goods purchased during shopping trips.

The payments and gifts were offered “to obtain valuable government business,” Acting Assistant Attorney General Nicole Argentieri said in a statement.

The Securities and Exchange Commission also cited SAP “bribery schemes” in Malawi, Kenya, Tanzania, Ghana and Azerbaijan.

The Justice Department’s statement commended SAP for cooperating with the department’s investigation, taking steps to uncover the root causes of the bribery, and boosting resources for a restructured ethics and compliance office.

More:Markets

Recommend

Nevada attorney general revives 2020 fake electors case

LAS VEGAS (AP) — A slate of six Nevada Republicans have again been charged with submitting a bogus c

Selena Gomez and Sister Gracie Dance the Night Away at BFF Taylor Swift’s Eras Tour

It was a night out of their wildest dreams. Selena Gomez and her sister Gracie were more than ready

'Killers of a Certain Age' and more great books starring women over 40

This week in Dear Bookseller, the well-read wizards at The Novel Neighbor in St. Louis help a woman