IBM settles with SEC, pays $10 million for accusations of bribery

Hey, look, it’s a significant international corporation entering into trouble for bribery , and it isn’t Samsung ! This time it’s home grown Big Blue, choosing to settle with SEC over allegations that its employees have spent the last 15 years or so illegally bribing and wooing foreign officials to attain themselves bigger contracts. This includes $207,000 in cash bribes paid to South Korean representatives between 1998 and 2003 plus more within the kind of gifts and trips to these willing and ready to sign over big contracts, even purchasing the non-public vacations of Chinese officials. Ultimately $10 million is little greater than a slap at the wrist for an organization the dimensions of IBM , which has not admitted fault and now won’t ever should, but we were glad to peer that Watson has not been implicated in any of those nefarious misdeeds. His record remains squeaky clean.

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This post is tagged: 10 million, allegations, bribery, chinese officials, Contracts, personal vacations, Samsung