March 3, 2016

February 18, 2016

February 18, 2016 – Telecommunications provider VimpelCom Ltd. will pay $795 million in a global settlement with the SEC, DOJ, and Dutch regulators to resolve allegations that it violated the Foreign Corrupt Practices Act (FCPA) in connection with its business in Uzbekistan.  The SEC alleges that Vimpelcom offered and paid bribes to an Uzbek government official related to the President of Uzbekistan, as the company entered the Uzbek market and sought government-issued licenses, frequencies, channels, and number blocks.  At least $114 million in bribe payments were funneled through an entity affiliated with the Uzbek official.  The SEC’s press release announcing the settlement described VimpelCom’s revenues in Uzbekistan as a result of the improper payments as “massive.”  VimpelCom will pay $167.5 million to the SEC, $230.1 million to the DOJ, and $397.5 million to Dutch regulators.  SEC

*     *     *

If you would like more information or would like to speak to a member of Constantine Cannon’s whistleblower lawyer team, please click here.