Swedish Telecom Telia To Pay $1B In FCPA Settlement

Law360, New York (September 21, 2017, 4:27 PM EDT) -- Swedish telecommunications giant Telia Co. AB on Thursday pled guilty in a New York federal court on behalf of a subsidiary to paying massive bribes to government officials in Uzbekistan to enter the market there as part of a worldwide deal that will cost Telia nearly $1 billion.

Telia's general counsel, Jonas Bengtsson, on behalf of the company's Coscom LLC subsidiary, pled Coscom guilty to one count of conspiracy to violate the Foreign Corrupt Practices Act.  He also acceded to a deferred prosecution agreement on behalf of parent company Telia.

He told U.S. District Judge George B. Daniels that beginning in...

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