Ohio-based pharmaceutical company Cardinal Health has agreed to pay $8.8 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA).
According to a statement from the Securities and Exchange Commission (SEC), employees of Cardinal Health’s former Chinese subsidiary, Cardinal China, bribed government officials.
The company’s internal auditing controls were not sufficient to detect improper payments made by employees of Cardinal China.
“Cardinal’s foreign subsidiary hired thousands of employees and maintained financial accounts on behalf of a supplier without implementing anti-bribery controls surrounding these high-risk business practices,” said Anita B. Bandy, an Associate Director in the SEC’s Division of Enforcement.
Read the story: Cardinal Health to Pay $8.8 Million to Settle Federal Charges.
Write a Letter to The Editor.