United States: Stericycle to Pay About $90 Million to Resolve Bribery Probes in U.S., Brazil

Medical-waste-management company Stericycle Inc. has agreed to pay about $90 million to settle allegations it violated anti-bribery laws in the U.S. and Brazil, U.S. authorities said Wednesday.

The Bannockburn, Ill.-based company faced both criminal and civil charges after the Justice Department and the Securities and Exchange Commission launched parallel investigations into its compliance with the U.S. Foreign Corrupt Practices Act. Stericycle also agreed to pay fines to resolve parallel investigations by Brazilian authorities.

U.S. prosecutors said Stericycle admitted to paying about $10.5 million in bribes to foreign officials in Brazil, Mexico and Argentina to win and keep business between 2011 and 2016. The company earned at least $21.5 million in profit from the scheme, according to the Justice Department. The FCPA prohibits companies with U.S. ties from paying bribes to foreign officials to gain a business advantage.

Read more on wsj.com

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