MTS will pay US $ 850 million due to a bribery case in Uzbekistan
Russia's largest mobile phone operator, MTS, will pay $ 850 million to settle a bribery and corruption case involving the daughter of the late President of Uzbekistan.
MTS shares are traded on the New York Stock Exchange
MTS is accused in the United States on the basis of the anti-corruption legislation of the Foreign Corrupt Practices Act, which allows the US authorities to investigate corrupt activities outside the United States. According to the SEC, from 2004 to 2012, MTS paid multimillion-dollar bribes to structures related to the family of the former president of Uzbekistan Islam Karimov in order to obtain licenses and expand business in Uzbekistan.
The settlement, announced on March 7, is the third of its kind as a result of a multinational scandal involving large telecommunications companies and continuing to be reflected in the courts of the United States and Europe.
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MTS said the payment is part of a settlement reached with the US Department of Justice and the Securities and Exchange Commission. The company's shares are traded on the New York Stock Exchange, so it can be controlled by US agencies.
The agreements "mark the termination of investigations regarding the acquisition by the company and the operation of its former branch in Uzbekistan," the company said.
Two other telecommunications companies have also been accused of bribery and corruption:
In 2016, VimpelCom, a telecommunications company headquartered in the Netherlands, controlled by Russian investors, agreed to pay $ 795 million to settle bribery claims with the US and Dutch authorities. VimpelCom controls the second largest mobile operator in Russia, Beeline.
The following year, the Scandinavian telecom, formerly called TeliaSonera, settled its corruption claims with regulators in the United States and the Netherlands.
MTS shares are traded on the New York Stock Exchange
MTS is accused in the United States on the basis of the anti-corruption legislation of the Foreign Corrupt Practices Act, which allows the US authorities to investigate corrupt activities outside the United States. According to the SEC, from 2004 to 2012, MTS paid multimillion-dollar bribes to structures related to the family of the former president of Uzbekistan Islam Karimov in order to obtain licenses and expand business in Uzbekistan.
The settlement, announced on March 7, is the third of its kind as a result of a multinational scandal involving large telecommunications companies and continuing to be reflected in the courts of the United States and Europe.
')
MTS said the payment is part of a settlement reached with the US Department of Justice and the Securities and Exchange Commission. The company's shares are traded on the New York Stock Exchange, so it can be controlled by US agencies.
The agreements "mark the termination of investigations regarding the acquisition by the company and the operation of its former branch in Uzbekistan," the company said.
"The company has committed blatant misdeeds for almost ten years, secretly sending hundreds of millions of dollars to a corrupt official."- said in a statement to the commission.
Two other telecommunications companies have also been accused of bribery and corruption:
In 2016, VimpelCom, a telecommunications company headquartered in the Netherlands, controlled by Russian investors, agreed to pay $ 795 million to settle bribery claims with the US and Dutch authorities. VimpelCom controls the second largest mobile operator in Russia, Beeline.
The following year, the Scandinavian telecom, formerly called TeliaSonera, settled its corruption claims with regulators in the United States and the Netherlands.
Publication Note:
Some may ask: "How does the USA penalize companies from another country on the basis of a law passed in the United States?"
I will answer with one (not with Habr) comment : “What the hell are foreign companies? Mts spent a lot of time and money to climb on the New York Stock Exchange. Signed a bunch of papers and warnings that accept US jurisdictions in this regard. And now "obozhechkimoippendysyshtrauyutnitelntsov". This is not the first such story. In 2016, Beeline was fined $ 795 million for corruption. Do you want the money of American investors - answer under American laws. All fair. "
Source: https://habr.com/ru/post/443048/
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