Ericsson whistle-blower reportedly bagged $279M - Mobile World Live

Ericsson whistle-blower reportedly bagged $279M

26 MAY 2023

The US Securities and Exchange Commission (SEC) handed out an award of $279 million for information related to bribery cases brought against Ericsson in 2019, The Wall Street Journal (WSJ) reported.

Earlier this month, the US agency announced the record sum had been awarded from its programme, which allocates cash for information leading to successful enforcement action.

When sanctions exceed $1 million, it noted pay outs for tips can reach as high as 30 per cent of the funds collected.

The SEC does not disclose information related to the identity of recipients, but the WSJ claimed on this occasion the bounty was related to the case settled by Ericsson in 2019 for almost $1.1 billion.

Of this sum around half was allocated to the SEC, with the remainder a criminal penalty.

As part of the settlement, Ericsson admitted to a number of charges related to corporate activities across several markets and over a number of years.

Reports of the destination of the whistle-blower reward came a day after positive news for Ericsson, when a US court threw out a lawsuit claiming it had misled investors in the wake of the corruption investigation.



Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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