World Bulletin/News Desk
Hewlett-Packard will pay $108 million and one of its subsidiaries will plead guilty to bribery charges over its role in a scheme to secure a contract with a Russian government office, the Justice Department said on Wednesday.
The Securities and Exchange Commission entered into a related settlement with the computing giant over allegations that its subsidiaries made improper payments to government officials in order to obtain contracts, in violation of the Foreign Corrupt Practices Act.
"The misconduct described in the settlement was limited to a small number of people who are no longer employed by the company," John Schultz, HP's executive vice president and general counsel said in a statement on Wednesday.
"HP fully cooperated with both the Department of Justice and the Securities and Exchange Commission in the investigation of these matters and will continue to provide customers around the world with top quality products and services without interruption."
The Justice Department said it acknowledged "extensive anti-corruption remedial efforts" the company undertook, including disciplining culpable employees and improving the company's internal controls.