Reported 16 days ago
Telefónica S.A., Spain's leading telecommunications operator, has agreed to pay over $85 million to settle a U.S. Justice Department investigation into bribing Venezuelan officials with luxurious gifts, including a lavish vacation and expensive watches. The bribery scheme reportedly began in 2014, allowing Telefónica to secure U.S. dollar access amidst strict foreign exchange controls, ultimately leading to significant profits. This marks the second bribery-related settlement for the company in the U.S.
Source: YAHOO