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Thursday, 29 December 2011 - Deutsche Telekom charged by SEC in bribery case |
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In the past 25 years, 10 airforce planes have crashed in collisions with migrating birds, but the new system developed at Tel Aviv University can now tell pilots where the birds will be in real-time.  Video  Tech trends for 2012 Toyota's new Aqua covers over 35km per litre Attack of the T-Cells: live on video Follow Reuters Facebook Twitter RSS YouTube Read U.S. Fifth Fleet says won't allow Hormuz disruption 28 Dec 2011 Iran warns U.S. over Strait of Hormuz 10:46am EST Bachmann's Iowa chairman quits, endorses Paul 9:01am EST Italy seeks bigger euro fund after tough debt sale | 10:31am EST Oil falls below $107, U.S. stocks and Iran in focus | 9:53am EST Discussed 358 Obama to ask for debt limit hike: Treasury official 267 In ad for newsletter, Ron Paul forecast ”race war” 123 Gingrich questions Ron Paul on racist newsletters Watched China tests 500kmph train Tue, Dec 27 2011 A minute of silence for Kim Jong-il Wed, Dec 28 2011 Air strike kills 30 in Turkey 4:17am EST Deutsche Telekom charged by SEC in bribery case Tweet Share this Email Print Related News Appeals court delays SEC-Citigroup fraud case Tue, Dec 27 2011 Special Report: The watchdogs that didn't bark Thu, Dec 22 2011 Deutsche Telekom could be forced into arms of Sprint Tue, Dec 20 2011 AT&T gives up on $39 billion bid for T-Mobile USA Tue, Dec 20 2011 AT&T drops $39 billion bid to buy T-Mobile USA Mon, Dec 19 2011 Analysis & Opinion Global disclosure 2011 review: trends and new mandates in public filings Killing dead flies with a sledgehammer: SEC proceedings against already defunct companies Related Topics Tech » Regulatory News » Thu Dec 29, 2011 10:30am EST (Reuters) - Deutsche Telekom AG, a Hungarian unit and three former executives were charged by a U.S. regulator in a corruption case involving bribery of government officials in Macedonia and Montenegro. The Securities and Exchange Commission said executives at the company's Magyar Telekom unit arranged payments in 2005 and 2006 of 4.88 million euros to Macedonian officials, under the guise of bogus consulting and marketing contracts, to keep a rival out of the market and win regulatory benefits. According to the regulator, the same executives in 2005 arranged a second scheme in which 7.35 million euros were paid to third-party consultants under four sham contracts, expecting some of the funds to be funneled to Montenegrin officials to help Magyar complete the purchase of Telekom Crne Gore AD. The SEC also filed charges against the three former Magyar Telekom executives: former Chief Executive Elek Straub, and strategy executives Andras Balogh and Tamas Morvai. It alleged violations of the Foreign Corrupt Practices Act, saying that the payments were recorded improperly on Magyar Telekom's books, and that those false entries were incorporated into Deutsche Telekom's financial statements, which are filed with the SEC. The SEC filed its charges in a federal court in New York. It is unclear whether the matter has been settled, or whether the U.S. Department of Justice is filing parallel charges, as it often does in FCPA cases. An SEC spokesman declined to comment. The Justice Department had no immediate comment. Deutsche Telekom had no immediate comment. A lawyer for Magyar Telekom declined to comment. The executives could not immediately be reached. The cases are SEC v. Magyar Telekom Plc et al, U.S. District Court, Southern District of New York, No. 11-09646; and SEC v. Straub et al in the same court, No. 11-09645. (Reporting by Jonathan Stempel in New York; Additional reporting by Jeremy Pelofsky in Washington, D.C., and Peter Maushagen and Maria Sheahan in Frankfurt, editing by Dave Zimmerman) Tech Regulatory News Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Advertise With Us Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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