Hewlett-Packard fined $108M over foreign bribes

Hewlett-Packard Co. has agreed to pay a $108 million fine to resolve allegations that its subsidiaries bribed officials in Poland, Russia and Mexico to win business contracts.
By Steve Johnson, San Jose Mercury News Published: April 9, 2014
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Hewlett-Packard Co. has agreed to pay a $108 million fine to resolve allegations that its subsidiaries bribed officials in Poland, Russia and Mexico to win business contracts, the company and investigators said.

“Hewlett-Packard subsidiaries created a slush fund for bribe payments, set up an intricate web of shell companies and bank accounts to launder money, employed two sets of books to track bribe recipients, and used anonymous email accounts and prepaid mobile telephones to arrange covert meetings to hand over bags of cash,” a U.S. Justice Department statement said.

HP said the bribery was limited to a few people “no longer employed by the company.”

Distributed by MCT Information Services