Defendant Name: Magyar Telekom, PLC

Defendant Type: Public Company

Document Reference: court_doc3_11-cv-09646

Document Details

Legal Case Name SEC v. Magyar Telekom, Plc and Deutsche Telekom, AG
Document Name Final Judgment as to Defendant Magyar Telekom, Plc.
Document Date 03-Jan-2012
Document Format Civil Proceeding
Case Number 11-cv-09646
Federal District Court New York, Southern District of New York
Federal District Judge Colleen McMahon
Allegation Type Foreign Corrupt Practices Act
Document Summary On January 3, 2012, Federal District Judge Colleen McMahon entered final judgment against Magyar Telekom, Plc pursuant to the consent of Magyar Telekom, Plc. 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 $5,000,000."

Disgorgement & Penalty Information

Resolutions
Enjoinment
Cooperation Before the Resolution
Monetary Penalties:

Disgorgement

Individual:     $25,249,772.00 Shared:    

Civil Penalty

Individual:     $5,000,000.00 Shared:    

Pre-Judgment Interest

Individual:     $5,961,719.00 Shared:    

Related Documents:

comp22213-co 29-Dec-2011 Complaint
Complaint
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.
LR-22213 29-Dec-2011 Litigation Release
SEC Charges Magyar Telekom and Former Executives with Bribing Officials in Macedonia and 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."
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 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.

Other Defendants in Action:

Related Actions:

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