The SEC filed a complaint on December 29, 2011. In the complaint, 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.

On December 29, 2011, the SEC announced that Magyar Telekom, PLC "agreed to settle the SEC's charges by paying more than $31.2 million in disgorgement and pre-judgment interest."

On December 29, 2011, the SEC announced that it charged Magyar Telekom, PLC ("Magyar Telekom"), the largest telecommunications provider in Hungary, and three of its former top executives 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 ("Deutsche Telekom") also is charged with books and records and internal controls violations of the Foreign Corrupt Practices Act. Magyar Telekom and Deutsche Telekom consented to the entry of final judgments without admitting or denying the SEC's allegations. The settlements, which are subject to court approval, require Magyar Telekom to pay more than $31.2 million in disgorgement and prejudgment interest. Magyar Telekom also agreed to pay a $59.6 million criminal penalty as part of a deferred prosecution agreement with the U.S. Department of Justice. Deutsche Telekom, as part of a non-prosecution agreement with the Department of Justice, agreed to pay a penalty of $4.36 million.