The company’s name omitted from the headlines starts with a QUAL!
Qualcomm, a wireless telecommunications company based in San Diego, paid $7.5 million to settle the SEC probe. In a statement announcing the settlement last week, the commission accused the company of violating the Foreign Corrupt Practices Act between 2002 and 2012 by hiring unqualified relatives of Chinese officials and providing them with luxury gifts that had “no valid business purpose.”
These allegations were echoed in a civil lawsuit filed by Qualcomm’s shareholders last month, which also accused the company’s executives of defrauding investors.
Clinton spoke at Qualcomm’s Wireless Reach conference in October 2014. Critics noted that the $335,000 speech payment was more than Bernie Sanders’s entire net worth.
I thought companies had to certify, under perjury, that they did not violate the foreign corrupt practices act. Am I wrong on that?? IOW, why is there no criminal prosecution. As I understand civil law, once convicted criminally, the civil penalties are moot.