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International Corruption Uncovered: Fresenius Will Pay $231M To Settle Charges Of Bribery, Sloppy Bookkeeping

 
• By Elizabeth Orr

Fresenius Medical Care has agreed to pay $231m to resolve reports of overseas bribery. The US Department of Justice says the dialysis giant paid bribes to health and government officials in Angola and Saudi Arabia, and failed to keep accurate financial records in Angola, Saudi Arabia, Morocco, Spain, Turkey, and several countries in West Africa.

Businessmen making handshake with money in hands - bribery, corruption and venality concepts - Image

Dialysis giant Fresenius SE & Co. KGaA is paying $231m to resolve reports the company bribed government and health-care officials in Angola and Saudi Arabia and engaged in sloppy bookkeeping in a range of other countries, an agreement recently filed with the US Securities & Exchange Commission shows.

The settlement concludes investigations by the US Department of Justice and the Securities & Exchange Commission into potential violations of the Foreign Corrupt Practices Act.

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