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Panasonic to pay $280M to settle federal corruption probe
Published in 1-5-2018
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LAKE FOREST, Calif. (AP) Panasonic Corp. will pay about $280 million to resolve federal charges that executives at its in-flight entertainment unit improperly hid payments to consultants overseas in violation of anti-corruption rules, officials announced Monday. The Japanese electronics giant's parent company will pay $143 million to the Securities and Exchange Commission, while its Southern California subsidiary, Panasonic Avionics, will pay $137 million in penalties to the U.S. Justice Department, federal prosecutors said. The investigation concerned payments to consultants in Asia and the Middle East, at least one of which did little or no work, authorities said.