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A boss at Ericsson is being forced to pay back Skr50 million connected with bribery

Friday, 03 May 2013
An Ericsson head has been ordered to pay nearly Skr50 million to the company - money that the man himself claims was used for bribes.

The Swedish business daily,  Dagens Industri, reports that a one year old arbitration, has been declare to stand after the Svea Court of Appeal has now refused the man's request that the judgment be set aside. It also means that the declassified process become public.

Ericsson claims that the former country manager in Romania helped to transfer large sums of money to itself, behind the back of the company.

According to the Ericsson Head, the money was use to finance bribes, which was a prerequisite for doing business in Romania in the 1990s. A director of Ericsson's Romania Company in support of the manager testified that the parent company was aware of the need to use bribes in Romania, writes Dagens Industri.

But no evidence for any corrupt practices has been submitted and Ericsson denies knowing that they existed. The decision of the Svea Court of Appeal establishes its right to request the return of a total of 48 million plus interest off his former Romania Manager.
by Scancomark.com Team


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