HP to Pay $108M to End International Graft Inquiry

HP HQ

Hewlett-Packard will pay the U.S. government $108 million to settle charges that former employees paid bribes to officials in Russia, Mexico and Poland.

Hewlett-Packard Co. will make the payments to the U.S. Department of Justice and the Securities and Exchange Commission.

The SEC says an HP division in Russia paid $2 million to make sure the company retained a contract with the federal prosecutor’s office there. A Mexican subsidiary paid $1 million to keep a contract with the country’s state-owned oil company, while $600,000 in gifts and bribes were paid to a Polish official to win contracts with the police.

HP’s general counsel, John Schultz, said the misconduct was limited to a small number of people who are no longer with the company. HP is based in Palo Alto, Calif.

Associated Press

 

Ivan Castilho
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Ivan Castilho is an entrepreneur and long-time Apple user since 2007, with a background in management and marketing. He holds a degree in Management and Marketing and multiple MBAs in Digital Marketing and Strategic Management. With a natural passion for music, art, graphic design, and interface design, Ivan combines business expertise with a creative mindset. Passionate about technology and innovation, he enjoys writing about disruptive trends and consumer tech, particularly within the Apple ecosystem.