February 17, 2022

South Korean telecommunications company KT Corporation will pay $6.3 million to resolve charges that the company and its executives engaged in multiple improper payment schemes in Korea and Vietnam in violation of the Foreign Corrupt Practices Act. The company allegedly failed to have adequate accounting controls, resulting in the creation of slush funds used for gifts and illegal political contributions to government officials who had influence over KT Corp.’s business.  SEC

Tagged in: FCPA, Financial and Investment Fraud,