IBM Argentina slapped with fines for graft
A court in Argentina has slapped a $9.3 million fine on IBM's local subsidiary for allegedly seeking to win a contract to computerize the country's tax collection system, authorities said Saturday.
Eleven people have been charged in the case that dates back to 1988-89. They will stand trial on March 15, 2016, the justice ministry said.
Prosecutors say IBM did not have the best offer in the government's bidding process, yet still won. It was paid one amount, then paid another company—STI—a smaller sum to do the job and kept the difference, they say.
The fine was meant to return to the state the amount that may have been "overbilled" as a bribe payment, government justice portal Infojus reported.
© 2015 AFP
Citation:
IBM Argentina slapped with fines for graft (2015, March 14)
retrieved 8 September 2024
from https://phys.org/news/2015-03-ibm-argentina-fines-graft.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
