Two US Companies Fined $1Mln for Bribes Paid to Chinese Officials

Two US-based companies, Akamai and Nortek, will pay almost $1 million in fines for profits illegally gained through bribes to Chinese officials, US Securities and Exchange Commission representative Kara Brockmeyer said in a press release on Tuesday.

WASHINGTON (Sputnik) — The Securities and Exchange Commission noted that the internet services provider Akamai Technologies will pay almost $672,000 in disgorgement and interest, because employees of its foreign subsidiary payed for gift cards, meals and entertainment to Chinese officials to build business relationships.

"Akamai and Nortek each promptly tightened their internal controls after discovering the bribes and took swift remedial measures to eliminate the problems," Brockmeyer stated.

At the same time, commercial building products manufacturer Nortek will pay about $322,000 in disgorgement and interest since its staff bribed the Chinese authorities to receive preferential treatment and relaxed regulatory oversight.