Ericsson to pay US$200 million for breaching deal over Iraq graft

SWEDISH telecom equipment maker Ericsson has said it will pay a US$207 million (RM925.3 million) fine for breaching a deal with US authorities by not disclosing an investigation relating to suspected bribes to the Islamic State group in Iraq.  

The company entered “a guilty plea regarding previously deferred charges relating to conduct prior to 2017,” for not disclosing an internal 2019 investigation relating under a 2019 Deferred Prosecution Agreement (DPA), it said in a statement late yesterday.