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Local Telecommunications Firm Fined $3 million Over Bribery Charges

The Pacific Business News of Honolulu is reporting that UTStarcom, a telecommunications equipment manufacturer with headquarters on Bay Farm Island in Alameda, and operations in China, has been fined $3 million to settle bribery charges over trips to Hawaii.

The article indicates that the U.S. Department of Justice had been investigating the firm over allegations of bribery – that the firm had paid for trips to U.S. tourist spots, including Hawaii, Las Vegas and New York City to win telecommunications contracts with Chinese government-run telecom carriers.

The Pacific Business News explains:

The company was fined $1.5 million for violating the Foreign Corrupt Practices Act. And, in a related case, it agreed to pay another $1.5 million fine to the U.S. Securities and Exchange Commission.

Earlier this month, the company announced that they had sold for roughly U.S. $140 million their manufacturing facility in Hangzhou, China, to the Zhongnan Group of Companies. The company plans to lease back the facilities.

1 comment to Local Telecommunications Firm Fined $3 million Over Bribery Charges

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