Fresenius Medical Care To Pay $231 Million To Resolve Criminal, Civil Foreign Bribery Charges

No Comment 21 Views

Germany-based dialysis clinic operator Fresenius Medical Care AG will pay about $231 million to resolve criminal and civil allegations that the company paid bribes to public health and government officials in several countries to win or retain business, the U.S. Justice Department said on Friday.

As part of the settlement, the company admitted that it doled out bribes to officials in Angola and Saudi Arabia from 2007 through 2016, and also failed to maintain proper internal accounting controls, the department said.

The Justice Department agreed not to prosecute the company criminally in exchange for Fresenius paying a penalty of $84,715,273.

The Securities and Exchange Commission, meanwhile, ordered the company to pay $147 million in disgorgement and prejudgment interest to settle the civil charges.

“We are pleased to have concluded these investigations and to have resolved the issues that we identified and voluntarily disclosed to the U.S. authorities,” Fresenius Medical Care Chief Executive Officer Rice Powell said in a statement.

Read the original article here:

Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions