Securities
Jul. 1, 2010
Telecom Fined Over Alleged Bribes
San Jose-based Veraz Networks, Inc., has agreed to pay $300,000 to settle a lawsuit with the SEC, an apparent preemptive strike to deter other young U.S. telecommunications firms from illegal 'pay to play' schemes in China and elsewhere.
Daily Journal Staff Writer
The Securities and Exchange Commission announced a $300,000 settlement with San Jose-based Veraz Networks, Inc., in what appears to be a preemptive strike to deter other fledgling U.S. telecommunications firms from illegal 'pay to play' schemes in China and elsewhere.
The SEC accused Veraz of violating the Foreign Corrupt Practices Act by attempting to bribe officials in China ...
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