Defendant Name:
Deutsche Telekom, AG
Defendant Type:
Public Company
Document Reference:
2011-279
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: Firm and Parent Company Agree to Pay $95 Million to Settle Civil and Criminal Charges
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 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.
Other Defendants in Action:
