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FalconStor to Pay $5.8 Million Over JPMorgan Bribery Claims

FalconStor Software Inc. agreed to pay $5.8 million to settle U.S. claims that it bribed executives at JPMorgan Chase & Co.

Federal officials accused the Melville, New York-based data storage company of paying more than $300,000 in bribes to the bank’s executives in an effort to win $12 million in contracts. The company also falsified its books to cover up the scheme, according to a statement from the Justice Department.