AIRLINK 74.20 Decreased By ▼ -0.05 (-0.07%)
BOP 5.08 Increased By ▲ 0.03 (0.59%)
CNERGY 4.42 No Change ▼ 0.00 (0%)
DFML 37.80 Increased By ▲ 1.96 (5.47%)
DGKC 90.67 Increased By ▲ 2.67 (3.03%)
FCCL 22.67 Increased By ▲ 0.47 (2.12%)
FFBL 33.04 Increased By ▲ 0.32 (0.98%)
FFL 9.78 Decreased By ▼ -0.01 (-0.1%)
GGL 10.98 Increased By ▲ 0.18 (1.67%)
HBL 116.25 Increased By ▲ 0.35 (0.3%)
HUBC 135.75 Decreased By ▼ -0.09 (-0.07%)
HUMNL 9.91 Increased By ▲ 0.07 (0.71%)
KEL 4.61 No Change ▼ 0.00 (0%)
KOSM 4.80 Increased By ▲ 0.14 (3%)
MLCF 40.65 Increased By ▲ 0.77 (1.93%)
OGDC 138.33 Increased By ▲ 0.43 (0.31%)
PAEL 26.65 Increased By ▲ 0.22 (0.83%)
PIAA 26.08 Decreased By ▼ -0.20 (-0.76%)
PIBTL 6.73 Decreased By ▼ -0.03 (-0.44%)
PPL 123.80 Increased By ▲ 0.90 (0.73%)
PRL 27.05 Increased By ▲ 0.36 (1.35%)
PTC 14.13 Increased By ▲ 0.13 (0.93%)
SEARL 59.30 Increased By ▲ 0.60 (1.02%)
SNGP 71.00 Increased By ▲ 0.60 (0.85%)
SSGC 10.39 Increased By ▲ 0.03 (0.29%)
TELE 8.64 Increased By ▲ 0.08 (0.93%)
TPLP 11.35 Decreased By ▼ -0.03 (-0.26%)
TRG 64.64 Increased By ▲ 0.41 (0.64%)
UNITY 26.10 Increased By ▲ 0.05 (0.19%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,871 Increased By 33.2 (0.42%)
BR30 25,603 Increased By 143.1 (0.56%)
KSE100 75,237 Increased By 306.6 (0.41%)
KSE30 24,220 Increased By 74.2 (0.31%)

imageSAN FRANCISCO: A judge on Thursday ordered US computer giant Hewlett-Packard to pay $58.8 million for bribing Moscow government officials to win a big-money contract with Russia's prosecutor general's office.

Northern California US District Judge Lowell Jensen hit HP with the fine after the company pleaded guilty to violating anti-bribery and accounting provisions of the Foreign Corrupt Practices Act, the US Department of Justice said in a release.

According to a negotiated plea bargain, executives in an HP Russia subsidiary created a multi-million-dollar slush fund, from which money was used to bribe Russian officials who awarded the company a $45 million (35 million euro) contract with the Office of the Prosecutor General of Russia.

"Hewlett Packard's Russia subsidiary used millions of dollars in bribes from a secret slush fund to secure a lucrative government contract," principal deputy assistant attorney general Marshall Miller of the Justice Department's Criminal Division said in a release.

"Even more troubling was that the government contract up for sale was with Russia's top prosecutor's office," he said.

Copyright AFP (Agence France-Presse), 2014

Comments

Comments are closed.