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Ericsson Undergoes Corruption Probe: Report

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Ericsson Undergoes Corruption Probe: Report

Mobile telecom equipment maker Ericsson is under the radar of US authorities over its activities in China, facing corruption investigation. The news was first reported by Swedish newspaper Svenska Dagbladet and later, the company confirmed the investigation.

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In 2013, Ericsson received the request from the US Securities and Exchange Commission and the Department of Justice to provide details of information on its anticorruption policies and procedures, as well as some of its operations, confirmed Ericsson. “The questions were related to the U.S. Foreign Corrupt Practices Act.”

According to the company spokesperson Minako Nakatsuma Olofzon, the news was already confirmed to local media in 2013. However, media reports appeared then stated that the company is undergoing investigations related to its business operations in Romania.

“While we strive to at all times conduct our business in compliance with applicable laws, matters do arise from time to time as a result of the global nature of our business.”

Meanwhile, Ericsson did not provided more details about the investigation, but said that Ericsson will completely cooperate with the authorities.

According to the report published by the Swedish newspaper Svenska Dagbladet, a former Ericsson executive in Asia had a business interest in a supplier to Ericsson, which is in breach of company policy.

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.

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