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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,