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JUNIPER

$11.7 Million with SEC Paid for Juniper Network’s FCPA Violations

$11.7 Million with SEC Paid for Juniper Network’s FCPA Violations
The Siliconreview
07 September, 2019

For the conduct occurring in Russia and China, Juniper Networks has agreed to pay the SEC $11.7 million to settle FCPA violations. An agreement of disgorgement of an amount equal to $4 million tagged with a $6.5 million civil penalty was made by Juniper Networks. Also, pre-judgment interest of $1.3 million was made.

It was the year 2013 that the Juniper Networks investigation started. The SEC matter was resolved because of the decline of the Justice Department to prosecute Juniper Networks at the end of 2017. Further, the conduct in Russia and China by Juniper Networks went through a series of investigations.

Without passing on the savings to the end-user customers the Russian employees secretly increased sales discount amounts by agreeing with its third party channel partners in the time frame – 2008 to 2013. For the payment of travel including the entertainment of customers the additional funds played a role. It became common funds and also had aided government officials and their families.

People were sent to different locations such as Portugal, Italy and few US cities which had no Juniper Facilities. Further, they even make sure that there are no industry-specific conferences or other possible legitimate business justification. Sometimes the people who traveled visited the national park excursions, amusement parks, experienced good food, entertainment, and sightseeing locations.