ZTE is reportedly closing in on a deal to resolve its foreign bribery allegations by way of a $1 billion payment to the U.S. government. According to a new Reuters News report, the U.S. Department of Justice has an ongoing investigation into ZTE’s violation of the Foreign Corrupt Practices Act (FCPA) across several regions, with U.S. officials now working on a resolution that would involve a $1 billion payment. ZTE faces multiple bribery allegations under the FCPA for allegedly bribing officials across several regions to secure telecom contracts. According to people familiar with...
Read More.......