Tuesday, February 7, 2023

Million buses for ABB also in Switzerland

by admin
0 comment

Bribery in South Africa

Million buses for ABB also in Switzerland

The federal prosecutor’s office has concluded the criminal proceedings against the Swiss ABB group. In addition to a fine in Switzerland, he also has to pay settlement payments in South Africa and to US authorities.

1/2

ABB has to pay 4 million fines in Switzerland. In addition, there are comparative payments in South Africa and the USA.

Last July it became known that South Africa had brought charges of corruption and fraud against two former employees of the Swiss energy and automation technology group ABB. As a result, ABB had to set aside provisions of US$325 million.

The Swiss Federal Prosecutor’s Office: They issued a penalty order for “violation of the criminal code”. As a result, ABB will be fined CHF 4 million, and ABB will also have to bear the costs of the proceedings in the amount of CHF 50,000. The maximum penalty legally possible in Switzerland for this offense is 5 million Swiss francs. The Zurich-based group has accepted the penalty order and the associated allegations, according to the federal prosecutor.

Related News

Latest Switzerland News and updates and political news, follow our daily update about the congress and the government roundup, we also provide the latest news from all over the world minute by minute, subscribe to get the latest updates directly to your inbox.

© 2022 All Right Reserved. Switzerland Times