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Friday, June 14, 2024 | Back issues
Courthouse News Service Courthouse News Service

Hewlett-Packard Fined|$108 Million for Bribery

WASHINGTON (CN) - Hewlett-Packard will pay $108 million to settle SEC and federal prosecutors' charges of bribing officials in three foreign countries to get "lucrative public contracts."

The Justice Department filed parallel criminal charges regarding HP's bribes in Russia and Poland.

HP paid more than $2 million in bribes in Russia "to retain a multi-million dollar contract with the federal prosecutor's office," the SEC said in a statement announcing its settled cease-and-desist order.

In Poland, it paid more than $600,000 in bribes to get contracts with the national police agency.

And in Mexico, the bribes came to more than $1 million, to get a $6 million contract, according to the SEC.

Hewlett-Packard agreed to disgorge $29 million, $5 million in interest and criminal fines of $74.2 million.

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