United Technologies Corp. agreed to pay $13.9 million to settle Securities and Exchange Commission claims that the company made illicit overseas payments to help its elevator and jet-engine businesses.
The manufacturer violated the Foreign Corrupt Practices Act on multiple occasions, including by making “unlawful payments to Azerbaijani officials to facilitate the sales of elevator equipment,” the SEC said in a statement Sept. 12. United Technologies consented to the SEC order without admitting or denying the allegations, the regulator said.
In addition to the Azerbaijani payments, United Technologies was involved in a “kickback scheme” to sell elevators in China and provided ...
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