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Lucent Fires Four on Bribery Suspicions

Lucent fired four executives due to possible violations of the Foreign Corrupt Practices Act (FCPA).

> > The names of the fired executives were not disclosed, but the filing by Lucent with the SEC identified them as the President, the COO, a Marketing Executive, and a Finance Manager for its China operations.
According to Lucent, the deficiencies in China were uncovered during the FCPA compliance audits stemming from an investigation into its practices in Saudi Arabia. In an August 2003 filing, the company announced that it had been informed of an investigation by the Department of Justice and the SEC following allegations made by the National Group for Communications and Computers Ltd.
Source: CFO


Published:2004-04-07
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