22 September, 2017
Telia was named Telia Sonera at the time of the alleged corruption.
Stockholm-based Telia Company AB, whose securities traded in New York, "corruptly built a lucrative telecommunications business in Uzbekistan, using bribe payments wired around the world through accounts here in New York City", Acting US Attorney Joon Kim said in a statement.
"The resolution and related financial sanction that we announce today is a painful reminder of what happens if we don't", said Telia Company's CEO Johan Dennelind.
Telia consented to the SEC's order requiring the company to pay $457 million in disgorgement, and the company also agreed to pay a criminal fine of more than $508 million imposed by the Department of Justice.
Telia and its subsidiary in Uzbekistan, Coscom LLC, have admitted to making illegal payments of 2.6 billion kronor ($325 million) to Uzbek government officials to win business contracts in the country. In the U.S. and Dutch settlement, the amount of ill-gotten gains from the corruption was determined to be United States dollars 457 million. The remaining Dollars 548 million in fines owed by Telia will be divided equally between the U.S. and Dutch authorities.
The U.S. and Dutch authorities in March 2014 informed Telia about their investigation into Telia's historical transactions in Uzbekistan and its dealings with Takilant.
Since receiving the initial resolution proposal from the USA and Dutch authorities in September a year ago, Telia Company has engaged in constructive discussions with each authority and this has resulted in a resolution that is in the best interests of the Company.
A Swedish prosecutor said on Friday he will charge three former employees at telecom operator Telia Company, including its former Chief Executive Lars Nyberg, as he prosecutes a long-standing case of suspected bribery in Uzbekistan. Telia Company continuously considers all possibilities to protect the rights and interests of the Company.
