12:31 GMT +315 October 2018
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    US Tech Company Fined $14Mln for Paying Bribes in Russia, Five Other States

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    A Danish subsidiary of a company based in the US state of Massachusetts has agreed to pay a $3.4 million fine under the Foreign Corrupt Practices Act (FCPA) for improper payments while selling it ultrasound equipment in Russia and five other nations, the US Department of Justice announced in a press release.

    WASHINGTON (Sputnik) — BK Medical subsidiary, Analogic Corporation, teamed up with its distributor in Russia to use inflated invoices, which allowed the company to funnel payments to unknown third-party recipients, the release explained.

    "Although the scheme involving its Russian distributor was the most extensive, BK Medical also admitted that it engaged in similar schemes with distributors in five other countries," the release on Tuesday said.

    In addition to the $3.5 million fine, BK Medical agreed to pay more than $11 million in penalties to the US Securities and Exchange Commission.

    The FPCA prohibits US companies from paying bribes while doing business overseas.

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