Wisconsin Marketing Company Pays Nearly $10 Million to Settle Foreign Bribery Charges
Quad/Graphics Inc. has agreed to pay nearly $10 million to settle charges from the U.S. securities regulator that the print-and-digital marketing company violated foreign bribery laws.
The Sussex, Wis.-based business engaged in bribery schemes in Peru and China in violation of the Foreign Corrupt Practices Act, according to the U.S. Securities and Exchange Commission.
From at least 2011 to 2016, a Quad/Graphics subsidiary in Peru paid or promised bribes to government officials to win contracts, and participated in a scheme to influence a tax dispute using illicit payments, according to the SEC.
In addition, the Peruvian subsidiary concealed transactions with a state-controlled telecommunications company in Cuba that was subject to U.S. sanctions, the SEC said.
Separately, between 2010 and 2015, a Quad/Graphics subsidiary in China made illicit payments, including to government officials, through phony sales agents with the goal of securing business, according to the securities regulator.
Quad/Graphics was a privately held company until 2010, when it went public following its acquisition of Canadian printer World Color Press Inc., a move that gave the Wisconsin company a large international presence, according to the SEC.
From wall street journal