Tyco to pay $26.8 million to settle FCPA investigation

U.S. officials say the company earned $10.5 million by bribing foreign officials

Tyco International will pay $26.8 million to settle a federal investigation into alleged Foreign Corrupt Practices Act (FCPA) violations at its foreign subsidiaries.

Between 2006 and 2009, the Switzerland-based company earned roughly $10.5 million by bribing officials in more than a dozen countries, according to the Securities and Exchange Commission. The alleged wrongdoing includes Tyco subsidiaries in Germany, Turkey and China, where employees reportedly doled out bribes and improperly recorded other payments. The misdeeds came to light after Tyco itself conducted an internal review and alerted regulators to the illegal payments.

Alanna Byrne

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