Ericcson Fires 50 In Corruption Probe

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CBJ — Mobile telecom gear maker Ericsson has fired about 50 people over a U.S. corruption probe it warned could lead to a financial penalty.

The Swedish company has previously said that it initially received questions from American authorities in March 2013 and that it has been cooperating with the U.S. Securities and Exchange Commission and the U.S. Department of Justice.

Findings of corruption by U.S. authorities can result in hefty fines for companies under the Foreign Corrupt Practices Act.

@CanBizJournal

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