Spanish phone company subsidiary to pay $85M to resolve US probe of Venezuelan bribery scheme

Rock band Papa Roach to bring ‘Rise of the Roach’ tour to San Antonio in 2025Read full article: San Antonio clinic aims to improve access to sexual health servicesLooking to save on items for your home, road trip and wardrobe? We've got the latest Insider Deals to share!FILE - The logo for the Justice Department is seen before a news conference at the Department of Justice, Aug. 23, 2024, in Washington.

Telefónica Venezolana, a subsidiary of Telefónica S.A., bribed Venezuelan officials to participate in an auction that allowed it to get U.S. dollars in exchange for Venezuelan bolivars, Justice Department officials said.Telefónica Venezolana bought equipment at inflated prices from suppliers, who then paid the bribes on its behalf in an attempt to hide the illegal scheme, prosecutors said.

“Telefónica Venezolana chose to support a corrupt regime to circumvent the difficulties of conducting legal business in Venezuela," said Principal Deputy Assistant Attorney General Nicole Argentieri, who leads the Justice Department’s Criminal Division. The subsidiary is charged in U.S. federal court with conspiracy to violate the Foreign Corrupt Practices Act but will avoid prosecution under an agreement with the Justice Department if it follows certain conditions.Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Spanish phone company subsidiary to pay $85M to resolve US probe of Venezuelan bribery schemeA Venezuelan subsidiary of a Spanish phone company will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan government officials. Telefónica Venezolana, a subsidiary of Telefónica S.A., bribed Venezuelan officials to participate in an auction that allowed it to get U.S.
Source: AP - 🏆 728. / 51 Read more »

Spanish phone company subsidiary to pay $85M to resolve US probe of Venezuelan bribery schemeA Venezuelan subsidiary of a Spanish phone company will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan government officials.
Source: wjxt4 - 🏆 246. / 63 Read more »