Russian Telecom Settles FCPA Claims For $850M

Law360 (March 6, 2019, 6:49 PM EST) -- Russian telecommunications group Mobile TeleSystems PJSC and a subsidiary agreed to pay $850 million related to U.S. authorities' allegations that the company bribed an Uzbek official to win $2.4 billion worth of business, the U.S. Securities and Exchange Commission announced Wednesday.

MTS, which is listed on the New York Stock Exchange, settled the SEC's allegations for $100 million. That amount will be credited toward a criminal fine and forfeiture of $850 million levied against an MTS subsidiary as part of a guilty plea and deferred prosecution agreement with the U.S. Department of Justice, according to the SEC.

MTS was accused of...

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