September 12, 2018

Elevator and technology company resolves FCPA charges

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.

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