Anticorruption Developments -
Former Magyar Telekom Executives Reconcile Bribery Charges -
April 24, 2017, the US Securities and Exchange Commission (SEC) announced that the Hungarian telecommunications company Magyar Telekom's two former executives agreed to reconcile the FCPA's allegations. Immediately before the two executives were ordered to be interrogated by the FCPA allegations, their FCPA charges were initially filed in December 2011. The executives were accused of making false contracts to pay improper payments to foreign officials in Macedonia in order to prevent competitors from entering the market. Magyar former chief executive officer Elek Straub will pay a fine of $ 250,000, Magyar former chief strategy officer Andras Balogh will pay a fine of $ 150,000. They also agree that within five years is not a senior employee or director of any listed company registered with the SEC...
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