Oracle to pay about $23 mln to resolve a second SEC bribery case

Summary by Ground News

Big Red has paid $23 million to the US Securities and Exchange Commission to settle corruption charges. subsidiaries in Turkey, United Arab Emirates and India used slush funds to bribe foreign officials to win business. SEC said on Tuesday that Big Red violated provisions of the Foreign Corrupt Practices Act (FCPA) between 2016 and 2019.

Published 4 months ago · Washington, United States

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Reuters

Oracle to pay about $23 mln to resolve a second SEC bribery case

Oracle Corp will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in return for business, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said the Turkey and UAE units also used slush funds to pay for foreign officials to attend technology conferences in violation of Oracle

4 months ago·United Kingdom

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The Hindu

Oracle to pay about $23 million to resolve a second SEC bribery case

According to the regulator, Oracle's Turkey and UAE units also used slush funds to pay for foreign officials to attend technology conferences in violation of Oracle policies

4 months ago·India

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The Hill

Oracle to pay $23M to settle foreign bribery allegations

Oracle will pay $23 million to settle charges that the company bribed foreign officials through its subsidiaries in several countries, the Securities and Exchange Commission (SEC) announced Tuesday. The SEC order alleges that Oracle subsidiaries in Turkey, the United Arab Emirates (UAE) and India used slush funds to bribe officials in return for business between…

4 months ago·Washington, United States

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OAN

Oracle to pay about $23 million to resolve a second SEC bribery case – One America News Network

(Corrects headline and first paragraph to show that Oracle is paying about $23 million, not “more than” or “over” that amount as stated in SEC press release)(Reuters) – Oracle Corp will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in return for business, the U.S. Securities and Exchange Commission said on Tuesday.The SEC said the case is the secon…

4 months ago·San Diego, United States

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The Epoch Times

Oracle to Pay About $23 Million to Resolve a Second SEC Bribery Case

Oracle Corp. will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in order to win business, the U.S. Securities and Exchange Commission said on Tuesday. The case covered alleged wrongdoing from 2014 to 2019, and is the second time the SEC charged Oracle with violating the federal Foreign Corrupt Practices Act (“FCPA”), an anti-bribery law. According to t…

4 months ago·New York, United States

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صحيفة الاقتصادية

Oracle required to pay $23 million to settle charges related to bribery

The U.S. Securities and Exchange Commission said today that Oracle will pay about $23 million to settle charges against its units in Turkey, the UAE and India of paying money to bribe foreign officials for their business. According to Reuters, the committee added that the company's units in Turkey and the UAE offered bribes to foreign officials to attend technology conferences in violation of Oracle's policies, while employees of the Turkey unit…

4 months ago

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