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Ericsson Pleads Guilty to Breaching US Agreement in Bribery Case

  • Company to pay $206 million penalty to end bribery probe
  • Plea ‘fundamentally important step’ for Swedish 5G maker

Ericsson AB pleaded guilty to breaching a 2019 settlement with the Justice Department after it failed to be transparent about bribery schemes it operated in China and East Africa. 

The telecommunications company, which admitted Tuesday in federal court to violating the Foreign Corrupt Practices Act, also agreed to pay a more than $206 million criminal penalty.