HP pays $108 million to settle foreign bribery probes
Hewlett Packard has agreed to pay $108 million dollars to put to rest an investigation regarding bribes HP paid to foriegn officials to gain lucrative contracts. The countries where these bribes allegedly took place were Russia, Poland and Mexico. The bribes violate the Foriegn Corrupt Practices Act of 1970. HP Executive Vice President, John Schultz, has stated that the bribes were committed by a small number of employees who have been dismissed. In the Russian case an elaborate scheme had HP buy back old equipment at very high prices in order to establish a fund that was then used to buy expensive gifts as bribes. In Poland, HP executives used anonymous emails and pre-paid phones to avoid detection, while providing over $600,000 in cash and products. In Mexico, HP paid a $1.4 million dollar commission to close a deal with the government owned petroleum company, Pemex.
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