IBM, NCR, Hitachi named in China bribe case

IBM, NCR, Hitachi named in China bribe case
Tags: Asia, Australia & Pacific, Bank / Credit Union, Latin America, Manufacturers, Middle East & Africa, North America, Public Companies, Regulatory Issues, Security
December 3, 2006

(Shanghai) International Herlad Tribune: IBM Corp., NCR Corp. and Hitachi have been named in a verdict that sentenced the former head of China Construction Bank to 15 years in prison for accepting more than $500,000 in bribes. The three companies were named and identified as having worked through a Chinese contact in 2003 and 2004 to sell information-technology services to the state-owned bank. If the American companies knowingly made gifts or large payments to Chinese officials to win or influence business, they could be prosecuted in the United States under the Foreign Corrupt Practices Act of 1977.