Hewlett-Packard has agreed to pay a $108 million fine to resolve allegations that its subsidiaries bribed officials in Poland, Russia and Mexico to win business contracts, the company and federal investigators announced Wednesday. HP is paying the fine to the Justice Department and the U.S. Securities and Exchange Commission, which also investigated the case. In its own statement, HP said the bribery “was limited to a small number of people who are no longer employed by the company.”
HP (NYSE:HPQ) has, err, “resolved” several allegations that it bribed officials in Mexico and Eastern Europe. The Department of Justice and the Securities and Exchange Commission don’t take kindly to violations of the Foreign Corrupt Practices Act, you see. Oh. Wait. Did I say “HP”? Of course I actually meant “HP subsidiaries.” So that’s all right then. In IT Blogwatch, bloggers watch Bill and Dave roll in their respective graves. Your humble blogwatcher curated these bloggy bits for your entertainment. Steve Johnson reports: “Hewlett-Packard has agreed to pay a $108 million fine to resolve allegations that its subsidiaries bribed officials in Poland, Russia and Mexico.”
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