ZTE May Pay $1B to U.S. for Bribery Accusations

Chinese telecom giant ZTE Corporation may soon pay over one billion dollars to the U.S. government to resolve long-standing accusations of foreign bribery. This comes after they already paid around two billion dollars in penalties for export violations during former President Donald Trumps first term. The Justice Department is investigating ZTE for supposedly violating the Foreign Corrupt Practices Act in South America and other regions. A settlement could significantly impact ZTEs finances, but without a deal, the U.S. could reinstate a Commerce Department ban, severely affecting ZTEs operations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.