US Tech Company Fined $28 Million over Chinese Officials Bribe

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US Tech Company Fined $28 Million over Chinese Officials Bribe

Postby kreslik.news » Mon Feb 15, 2016 9:47 pm


The US Securities and Exchange Commission (SEC) and Department of Justice (DOJ) announced that a US-based technology company and its two Chinese subsidiaries have been fined more than $28 million after it provided non-business related travel and other improper payments to various Chinese governmental officials in an effort to win business, according to the release.

The Massachusetts-based technology company PTC, Inc and its two Chinese subsidiaries agreed to pay $11.858 million in disgorgement and $1.764 million in prejudgment interest to settle the SEC’s charges following the agency’s investigation, and to pay a $14.54 million fine in a non-prosecution agreement concurrently ... (read more)

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