Oracle Pays $2M To Settle Claims It Breached FCPA In India

Law360, New York (August 16, 2012, 5:44 PM EDT) -- Oracle Corp. agreed to pay $2 million on Thursday to settle the U.S. Securities and Exchange Commission's California complaint alleging the computer technology giant violated the Foreign Corrupt Practices Act in India.

The SEC had accused Oracle of violating the FCPA by failing to stop Indian subsidiary Oracle India Pvt. Ltd. from secretly hiding money to later be used to pay bribes to phony vendors in India. Employees at Oracle India allegedly skimmed a portion of proceeds from certain sales to the Indian government to make...
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