United Technologies Corporation will pay $13 million to resolve civil charges brought by the US Securities and Exchange Commission alleging that Otis Elevator Co., a subsidiary of UTC, paid officials in Azerbaijan to secure contracts for elevator equipment in housing projects in the capital. The SEC also alleges that UTC entered into a joint venture in China for corrupt purposes, and that the company provided items of value to foreign officials in six countries in Asia.
September 12, 2018
Elevator and technology company resolves FCPA charges
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