Hewlett-Packard to forfeit $108 million fine in support of foreign bribes

April 10 [Thu], 2014, 15:22
Hewlett-Packard to forfeit $108 million fine in support of foreign bribes

PALO ALTO -- Hewlett-Packard has agreed to forfeit a $108 million fine to resolve allegations with the aim of its subsidiaries bribed officials featuring in Poland, Russia and Mexico to win organization contracts, the company and federal investigators announced Wednesday.

"Hewlett-Packard subsidiaries formed a slush trust in support of bribe payments, become hard up an intricate muddle of shell companies and side accounts to filter money, employed two sets of books to track bribe recipients, and used secret email accounts and prepaid portable telephones to organize wood meetings to employee completed bags of coins," a U.S. Justice region statement whispered.

The statement cited HP's "extensive cooperation" with investigators, which integrated liability its own search, making its employees obtainable in support of interviews and gathering "voluminous evidence."

HP is paying the fine to the Justice region and the U.S. Securities and replace Commission, which additionally investigated the task. Featuring in its own statement, HP whispered the bribery "was some degree of to a trivial add up to of population who are rebuff longer employed by the company."

Federal officials whispered the bribes totaled extra than $2 million featuring in Russia, extra than $1 million featuring in Mexico and extra than $600,000 featuring in Poland.

Between other things, HP Polish subsidiary HP Poland "gave the government sanctioned bags packed with hundreds of thousands of dollars of coins, provided the sanctioned with HP desktop and laptop computers, portable policy and other products and took the sanctioned on a leisure expedition to Las Vegas, which integrated drinks, dining, entertainment and a exclusive tour trip completed the overall Canyon," the Justice region whispered.

"To covertly communicate with the sanctioned with reference to the corrupt scheme," it added, an executive with the subsidiary "used secret email accounts, prepaid portable telephones and other methods destined to evade detection."

Featuring in Russia, the agency whispered, the bribes were "largely transferred through a cascading cycle of shell companies ― a few of which were exactly associated with government officials -- registered featuring in the United States, United Kingdom, British Virgin Islands and Belize." It whispered the payments were laundered through side accounts featuring in Switzerland, Lithuania, Latvia and Austria.

"Part of the Russian payments "were spent on travel, cars, jewelry, clothing, expensive watches, swimming pool knowledge, furniture, household appliances and other luxury goods," it whispered. "To keep track of these corrupt payments, the conspirators inside HP Russia reserved two sets of books: Secret spreadsheets with the aim of detailed the categories of recipients of the corrupt funds and clean versions with the aim of hid the corrupt payments from others outside of HP Russia."

And featuring in Mexico, the Justice region whispered, HP subsidiary HP Mexico "falsified corporate books and records and circumvented HP interior controls featuring in connection with contracts to plug hardware, software, and licenses to Mexico's state-owned oil company, Petróleos Mexicanos (Pemex)."

Featuring in order to acquire the contracts, Justice officials added, "HP Mexico understood with the aim of it had to maintain a reliable third-party consultant with close ties to senior executives of Pemex. HP agreed to forfeit a $1.41 million 'commission' to the consultant," who in a while paid lone of the Pemex officials approximately $125,000.

Tags : HP
Lenovo ThinkPad X220 Accu

Lenovo ThinkPad X220 Tablet Accu
Related: http://cherideng2012.metroblog.com/