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SEC charges Deutsche Telekom over bribery in Macedonia

12/29, 12:25pm

SEC charges former Deutsche Telekom execs

US Regulator the Securities and Exchange Commission (SEC) has charged Deutsche Telekom, a Hungarian unit and three former executives in a corruption case, according to a Thursday report. The charges include bribery of government officials in Macedonia and Montenegro dating back to 2005 and 2006, with the activities made public in 2010. Magyar Telekom, a unit of Deutsche Telekom, allegedly gave Macedonian officials 4.88 million euros (about $6.3 million) disguised as consulting and marketing contracts in order to keep a rival out of the market.

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