Defendant Name: Deutsche Telekom, AG

Defendant Type: Public Company

Document Reference: LR-22213

Document Details

Legal Case Name SEC v. Magyar Telekom Plc. and Deutsche Telekom AG
Document Name SEC Charges Magyar Telekom and Former Executives with Bribing Officials in Macedonia and Montenegro
Document Date 29-Dec-2011
Document Format Civil Proceeding
Case Number 11-cv-09646
Federal District Court New York, Southern District of New York
Allegation Type Foreign Corrupt Practices Act
Document Summary On December 29, 2011, the SEC issued a litigation release announcing that Deutsche Telekom agreed to settle the SEC's charges. Deutsche Telekom also agreed to a non-prosecution agreement with the Department of Justice under which Deutsche Telekom agreed to pay a $4.36 million penalty.

Related Documents:

comp22213-co 29-Dec-2011 Complaint
Complaint
In the complaint filed on December 29, 2011, the SEC alleged "multiple violations of the Foreign Corrupt Practices Act ... by defendant Magyar Telekom, Plc. ("Magyar Telekom") and corresponding violations of the books and records and internal controls provisions of the FCPA by Magyar Telekom's parent company, defendant Deutsche Telekom, AG ("Deutsche Telekom")." The FCPA violations allegedly took place in 2005 and 2006 in the Republic of Macedonia and in 2005 in the Republic of Montenegro.
2011-279 29-Dec-2011 Press Release--Civil Action
SEC Charges Magyar Telekom and Former Executives with Bribing Officials in Macedonia and Montenegro: Firm and Parent Company Agree to Pay $95 Million to Settle Civil and Criminal Charges
On December 29, 2011, the SEC charged Magyar Telekom Plc ("Magyar Telekom"), the largest telecommunications provider in Hungary, with bribing government and political party officials in Macedonia and Montenegro to win business and shut out competition in the telecommunications industry. Magyar Telekom's parent company Deutsche Telekom AG, also listed as a defendant, was charged with books and records and internal controls violations of the Foreign Corrupt Practices Act. Without admitting or denying the SEC's allegations, both companies consented to the entry of final judgments to settle the charges. The settlements remain subject to court approval. As part of a non-prosecution agreement with the U.S. Department of Justice, Deutsche Telekom agreed to pay a penalty of $4.36 million.
court_doc4_11-cv-09646 03-Jan-2012 Court Docket Document
Final Judgment as to Defendant Deutsche Telekom, AG
On January 3, 2012, Federal District Judge Colleen McMahon entered final judgment against Deutsche Telekom, AG pursuant to the consent of Deutsche Telekom, AG. The Court ordered that "based on Defendant's cooperation in a Commission investigation and related enforcement action, the Court is not ordering Defendant to pay a civil penalty in excess of $4,000,000."

Other Defendants in Action:

Related Actions:

SEC v. Elek Straub, Andras Balogh, and Tamas Morval