ZTE Faces Possible $1B Bribery Penalty

The Justice Department is investigating the Hong Kong-listed company for violating the Foreign Corrupt Practices Act, with the most recent case occurring in 2018. Reuters cited sources alleging the Chinese vendor worked out deals in South America that the Justice Department suspects involved bribery. The Department of Commerce is also reviewing the same facts as the Justice Department to determine if ZTE violated a ten-year agreement reached in 2018 to settle a case related to breaches of US government trade embargoes covering Iran, the news agency stated.

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ZTE Faces Possible $1B Bribery Penalty

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