United Technologies Corp. agreed to pay $13.9 million to settle U.S. allegations that it made illicit payments in its elevator and aircraft engine businesses.
The company made illicit payments for business in Azerbaijan and China, and provided trips and gifts to foreign officials in multiple countries, primarily in Asia, through two subsidiaries to get business, according to the Securities and Exchange Commission.
Such payments violate the Foreign Corrupt Practices Act, which bars the use of bribes to get or keep business. The law is jointly enforced by the SEC and the U.S. Justice Department.
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