The Securities and Exchange Commission’s record $279 million whistleblower award handed out earlier this month was the result of a tip about a bribery case against telecommunications giant Ericsson, The Wall Street Journal reported.
The reward came from the SEC’s cash-for-tips program and was related to a $1.1 billion settlement Ericsson, a Swedish company, had reached in 2019 with the U.S relating to allegations that it conspired to make illegal payments to win business in five nations, the newspaper said. Such a move violates U.S. antibribery laws.
The Journal attributed the information to people familiar with the matter.
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