AstraZeneca $5M Resolves Alleged Foreign Bribery Scam

London-based AstraZeneca PLC has agreed to pay more than $5.5 million to resolve Securities and Exchange Commission allegations its subsidiaries bribed Chinese and Russian government officials—most of whom were health-care providers—to buy the company’s products (In re AstraZeneca PLC, SEC, Admin. Proc. File No. 3-17517, 8/30/16).

AstraZeneca employees in the China subsidiary also paid local officials to drop fines that were levied against it, the commission said. AstraZeneca was also accused of falsely recording the improper payments as bona fide business expenses in its consolidated financial statements.

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