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Thursday, March 1, 2012
Volume:
28
Issue:
3
Abstract:
On December 29, 2011, the U.S. Justice Department announced that Magyar Telekom Plc., a Hungarian telecommunications company, and Deutsche Telekom AG, a German telecommunications company and majority owner of Magyar Telekom, agreed to pay a combined $63.9 million criminal penalty to settle a Foreign Corrupt Practices Act (FCPA) investigation into activities by Magyar Telekom and its subsidiaries in Macedonia and Montenegro.[1]
[1] US Department of Justice, Magyar Telekom and Deutsche Telekom Resolve Foreign Corrupt Practices Act Investigation and Agree to Pay Nearly $64 Million in Combined Criminal Penalties, Dec. 29, 2011.