17 October 2019

00:00:00 (GMT+5)

Tashkent +12,6 °C

Global development
7 Mar  2019 2518

MTS agrees to pay a of $850 million fine to resolve federal bribery charges

The Russian company Mobile TeleSystems (also known as MTS) entered into deferred prosecution agreement with US Justice Department and US Securities and Exchange Commission to resolve federal bribery charges regarding the corruption case of the former MTS subsidiary in Uzbekistan, agreeing to pay a fine of $ 850 million.

The company stressed, “The agreement puts an end to the investigation around the former MTS subsidiary in Uzbekistan from 2004 to mid-2012,” TASS reports.

The US Department of Justice claims that Vimpelcom and MTS allegedly used a network companies and fictitious consulting services contracts to transfer bribes to close relatives of the Uzbekistan former President Islam Karimov in exchange for access to the countries telecommunications market.

An investigation into the transactions of Vimpelcom, MTS and the Scandinavian TeliaSonera with Takilant was launched by the US Justice Department, together with the Dutch prosecutor's office in the spring of 2015.  

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