Panama bribery deal costs company $3.9 million
According to Reuters, SAP signed the agreement with the purpose of reaching a settlement of the civil charges against Vicente Eduardo García, a former SAP executive accused of bribing officials in Panama to obtain a contract for $14.5 million. The SEC said that poor internal controls in SAP allowed Garcia, who at the time was vice president of Global Strategic Sales for Latin America, to pay $145,000 in bribes to senior...