Analogic Corp will pay $14.9 million to settle U.S. charges the medical device maker’s Danish subsidiary conducted sham transactions with foreign distributors, with some money funneled to doctors employed by state-owned Russian entities. The Department of Justice on Tuesday said Analogic agreed to pay a $3.4 million criminal fine as part of a non-prosecution agreement. Analogic will also give up $7.67 million of improper gains plus $3.81 million of interest to settle related Securities and Exchange Commission civil charges, that regulator said. Investigators said Analogic’s BK Medical ApS ultrasound equipment unit violated the Foreign Corrupt Practices Act through its dealings with distributors in Russia and five other countries. They said the scheme resulted in millions of dollars of corrupt payments being funneled to third parties, and caused Analogic’s books and records to be falsified. The SEC said the suspicious transactions occurred from 2001 to 2011.
0 thoughts on “Analogic to Pay $14.9 mln to Settle U.S. Bribery Probe”
Comments are closed.