March 1, 2016
Posted March 3, 2016
March 1, 2016 – Telecommunications company Qualcomm Inc. will pay $7.5 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA) by hiring relatives of Chinese government officials involved with the decision of whether to purchase Qualcomm’s mobile technology products. An SEC investigation also found Qualcomm provided gifts, travel, and entertainment to officials at government-owned telecom companies in China in an attempt to influence their purchasing decisions. SEC
Tagged in: FCPA, Securities Fraud,