Slush fund: U.S. Securities and Exchange Commission sued Oracle
Oracle lost for misconduct by employees in India. In the opinion of the U.S. Securities and Exchange Commission that the equivalent of about 2.2 million U.S. dollars was lopped off from jobs and headed into slush funds. There had been a risk that "these funds will be used for illegal purposes, such as bribery or embezzlement," said the SEC.
The guards accused Oracle that he company's internal controls were too lax. The events occurred accordingly in the years 2005 to 2007. In order to establish the cause of the world, the software giant has now agreed to pay $ 2 million. Oracle denied the allegations here, nor the company realized it at - this is a common practice of comparing the United States.
Oracle has introduced controls, which were among the best in the industry, said a company spokeswoman. The company has revealed itself in 2007, the payments, it said in a written statement. Then Oracle has reported the events to the state authorities and is cooperating with the SEC in their investigations. "The employees involved were fired."
U.S. authorities pursuing corruption abroad. The legal basis of the "Foreign Corrupt Practices Act" is (FCPA). The long arms of the U.S. Department of Justice got to feel even Daimler and Siemens, who were asked for questionable transactions in different countries to pay. Two years ago, Daimler paid $ 185 million, Siemens $ 800 million four years ago with the SEC and the U.S. Department of Justice.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment