Ericsson to pay $207m for breaching US deal over Iraq graft

Stockholm – Swedish telecom equipment maker Ericsson has said it will pay a $207 million fine for breaching a deal with United States’ authorities by not disclosing an investigation into graft in Iraq.

The company entered “a guilty plea regarding previously deferred charges relating to conduct prior to 2017,” for not disclosing an internal 2019 investigation relating to suspected bribes to the Islamic State group in Iraq under a 2019 Deferred Prosecution Agreement (DPA), it said in a statement late Thursday.