March 29, 2019
This month, Russian telecommunications company Mobile Telesystems PJSC (“MTS”) resolved SEC and DOJ FCPA enforcement actions stemming from violations of the anti-bribery, books and records, and internal accounting controls provisions of the FCPA. From 2004 to 2012, MTS and its wholly-owned Uzbek subsidiary, KOLORIT DIZAYN INK LLC, allegedly paid at least US$420 million in bribes to a government official in Uzbekistan to enable MTS to obtain and retain business within the Uzbek telecommunications market. MTS will pay a total of US$850 million in penalties and must engage an independent compliance monitor for at least 3 years.
Visit the TRACE Compendium to view the complete entries, along with other updates from this month.