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Tuesday, September 27, 2022 9:45:21 AM
By: Investing.com | September 27, 2022
(Corrects headline and first paragraph to show that Oracle is paying about $23 million, not "more than" or "over" that amount as stated in SEC press release)
(Reuters) - Oracle Corp (NYSE:ORCL) will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in return for business, the U.S. Securities and Exchange Commission said on Tuesday.
The SEC said the case is the second time it has charged Oracle for violating the federal Foreign Corrupt Practices Act, an anti-bribery law. Oracle did not admit or deny wrongdoing in agreeing to settle.
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