Tipster on Ericsson received SEC’s largest ever whistleblower award of $279 million -WSJ

(Reuters) -The report $279 million whistleblower award issued by the U.S. Securities and Trade Fee earlier this month stemmed from a bribery case towards Swedish telecommunications firm Ericsson (BS:), the Wall Road Journal reported on Friday.

The award from the regulator’s cash-for-tip program was associated to the $1.1 billion settlement the corporate reached with U.S. authorities in 2019 over allegations that it conspired to make unlawful funds to win enterprise in 5 nations, the report mentioned, citing individuals accustomed to the matter.

The SEC declined to remark, whereas Ericsson didn’t instantly reply to Reuters requests for remark.

The regulator didn’t identify the enforcement motion underlying the award and didn’t determine the tipster consistent with whistleblower safety guidelines.

Ericsson in 2019 agreed to pay greater than $1 billion to resolve probes into corruption, together with the bribing of presidency officers in nations together with China, Vietnam and Djibouti.