U.S. judge approves IBM’s foreign bribery case settlement with SEC | Reuters

26 Jul

IBM in March 2011 agreed to pay some $10 million to resolve SEC charges over improper gifts to government officials in South Korea and China. The Department of Justice is now investigating allegations of illegal activity by a former IBM employee in Poland as well as transactions in Argentina, Bangladesh an Ukraine, according to IBM’s April 30 filing with the SEC.

Leon warned that if any IBM violations land on his desk in the future, he would be stricter in his review.

“If there’s a problem in the next two years, obviously it won’t be a day like today, it won’t be a happy day,” Leon told IBM’s General Counsel Robert Weber at the court hearing.

IBM neither admitted nor denied the allegations of bribery in South Korea or China, a common feature in SEC settlements.

via U.S. judge approves IBM’s foreign bribery case settlement with SEC | Reuters.

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