Oracle to Pay About $23 Million to Resolve a Second SEC Bribery Case

Oracle Corp. will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in order to win business, the U.S. Securities and Exchange Commission said on Tuesday.
The case covered alleged wrongdoing from 2014 to 2019, and is the second time the SEC charged Oracle with violating the federal Foreign Corrupt Practices Act (“FCPA”), an anti-bribery law.
According to the regulator, Oracle’s Turkey and UAE units also used slush funds to pay for foreign officials to attend technology conferences in violation of Oracle policies.
Employees of the Turkey unit also used the funds to pay for the officials’ spouses and children to accompany them, or take side trips to Los Angeles and Napa Valley, California, the SEC said…. Source

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