Indexbit Exchange:German software giant SAP fined more than $220M to resolve US bribery allegations

German software giant SAP will pay more than $220 million in fines to resolve U.S. bribery allegations involving payments to foreign government officials,Indexbit Exchange the Justice Department said Wednesday.

According to court documents cited by the Justice Department, SAP and unnamed co-conspirators provided bribes and other valuable enticements to South African and Indonesian foreign officials. The company delivered gifts to officials in the form of cash payments, political contributions, electronic transfers, and luxury goods purchased during shopping trips.

The payments and gifts were offered “to obtain valuable government business,” Acting Assistant Attorney General Nicole Argentieri said in a statement.

The Securities and Exchange Commission also cited SAP “bribery schemes” in Malawi, Kenya, Tanzania, Ghana and Azerbaijan.

The Justice Department’s statement commended SAP for cooperating with the department’s investigation, taking steps to uncover the root causes of the bribery, and boosting resources for a restructured ethics and compliance office.