DOJ accuses Ericsson in another set of bribing

The US Department of Justice accuses Ericsson of withholding information in a major bribery case.

The Swedish maker of telecom equipment would according to the Americans both before and after the settlement of a major bribery case in 2019 failed to provide “adequate information” about, among other things, the activities in Iraq.

In February, it was revealed that the company has been guilty of bribery and corruption in several countries, including in Iraq and Kazakhstan. Ericsson allegedly paid bribes in Iraq to gain access to transport routes. In addition, money from the company has also ended up with terrorist organization.

The company stated to take the corruption allegations very heavily and is determined to work with the US Department to resolve the case. Ericsson did not want to make any predictions about the possible consequences of the case.

The company said the internal investigation in 2019 revealed that no Ericsson employee had been directly involved in funding terrorist organizations. Also, based on the assessment of the recent revelations in the media, the company states “beyond belief” that the conclusion of the internal investigation will change.

In 2019, Ericsson reached a settlement with the US justice system for more than $ 1 billion because of another investigation into bribery in countries such as China, Vietnam and Djibouti.

The news fell badly with investors on the Stockholm Stock Exchange, the Ericsson stock dropped 12 percent on Wednesday.