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IBM Charged With Bribing Korean, Chinese Officials

Posted by timothy on from the conditions-on-the-ground-called-for-it dept.

angry tapir writes "The US Securities and Exchange Commission has charged IBM with giving hundreds of thousands of dollars in bribes to South Korean and Chinese officials starting in the late 1990s, according to court documents. IBM has agreed to pay US$10 million to settle the SEC lawsuit."

3 of 263 comments (clear)

  1. Maybe ... by arielCo · · Score: 4, Informative

    Just maybe, that's the normal way to do business with governments in those parts?

    Just sayin', based on my experience living in Latin America. Most of the time government offices are so sluggish (sometimes deliberately so), that you HAVE to grease the wheels if you want things done before you lose serious revenue. Clearing customs, currency exchange (where the government controls it), assorted permits... most new providers are shocked to learn how much these things can take.

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  2. Re:Bribery fines are funny by rolfwind · · Score: 4, Informative

    No, they're hypocritical. US Govt uses bribery and extortion all the time.

  3. Re:Bribery fines are funny by vertinox · · Score: 4, Informative

    Hanging for bribery? A little harsh don't you think?

    The Chinese don't think so.

    Well.... They shot him rather than hanged, but I suppose its close enough.

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    "I am the king of the Romans, and am superior to rules of grammar!"
    -Sigismund, Holy Roman Emperor (1368-1437)