SEC Sues IBM Alleging China, Korea Bribes,IBM agrees to pay $10 million to settle U.S. civil charges

[The Straight Story]

International Business Machines Corp. has agreed to pay $10 million to settle U.S. civil charges that employees bribed South Korean and Chinese government officials with cash payments, improper gifts and overseas trips from 1998 to 2009.

Managers employed by IBM's South Korean subsidiary and a joint venture to sell personal computers in South Korea allegedly paid government officials in that country $207,000 in cash bribes from 1998 to 2003 in order to secure the sale of products to the government, according to a complaint filed by the Securities and Exchange Commission.

Employees of the joint venture, named LG-IBM PC Co., Ltd., also gave free personal computers to officials and paid for their entertainment, the SEC said.

In China, more than 100 employees of two wholly-owned IBM units allegedly provided overseas trips, entertainment and improper gifts to Chinese government officials from 2004 to 2009, the SEC said. Several key IBM-China employees were involved in the alleged bribery, the SEC said.



http://online.wsj.com/article/SB10001424052748704608504576208634150691292.html?mod=WSJ_hp_LEFTTopStories

[Angry Dragon]

1. Some people NEED to go to jail

until these corporations start paying with jail time and personal fines
then this shit will not stop.