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Microsoft will pay $ 26 million to settle the Hungarian bribe scheme



in Hungary, Washington Post reports, on Monday, President and Chief Legal Adviser Brad Smith tell employees of the e-mail that the issue of "unlawful behavior of employees that is totally unacceptable." [19659003] The agreement in which Microsoft does not recognize or deny abuse comes after a Wall Street Journal report in 2018 that the US Department of Justice and the Securities and Exchange Commission are investigating whether Microsoft is selling software at a discount to Hungarian intermediaries who are p which gave birth to the government at inflated prices from 2013-2015. The aforementioned intermediaries have fed the scheme by spending part of their poorly earned profits from bribes and bribes to government personnel involved in the procurement process. a place to protect against such criminals:

In one case since 2014, Microsoft employees in Hungary received a 27.85% discount on software to be sold to the Hungarian National Tax and Customs Administration, the Securities and Exchange Commission , one of the US agencies with which Microsoft agrees, said on Monday's termination and refusal. The seller who handles this account has not passed the full discount and used part of the difference "to fund illegal payments to government officials," the agency said.

While the SEC noted that Microsoft has collaborated with the investigation, he said. on a Monday order that the company did not have "enough procedures to determine whether discount requests were legitimate and whether the approved discounts had been passed on to end customers."

According to Post, SEC said Microsoft has made $ 13.78 million in revenue from the scheme it will pay to SEC, plus $ 2.78 million in interest. Microsoft Hungary has entered into a separate unauthorized agreement with the Ministry of Justice, which requires payment of $ 8.75 million. Reuters also says dispute settlement has resolved SEC's statements on Microsoft's negligent accounting controls in Saudi Arabia and Thailand, which has led to "suffocating funds" as well as "unexplained discount on a deal involving the Turkish unit of Microsoft" . does not voluntarily elicit unlawful behavior, Microsoft Hungary has been given credit for the substantial collaboration between Microsoft and Microsoft Corporation with the Department's investigation and significant corrective action, "a press release said.

that Microsoft fired four employees from its Hungarian subsidiary, and terminated relations with four resellers there in 2016, but "vendors react by complaining to local regulators in an attempt to rebuild their business, and some of the employees have denied us. "He is" grateful that local courts and regulators have supported our decision to disconnect all individuals and businesses that we believe were completely unethical, "and he says he is pleased that SEC and DOJ recognize" the extent of our cooperation ". considerably smaller than some other cases involving violations of the Foreign Corrupt Practices Act. Walmart agreed in June 2019 to agree a $ 282 million deal involving corruption in foreign affiliates in places, including Mexico, Brazil and China, according to the report, but SEC has accused Walmart of shutting eyes for expansion for years of foreign investment. ] [Washington Post]


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