Alcatel-Lucent (ALU) will plead guilty in a Miami federal court Wednesday for paying bribes to officials in Costa Rica, Honduras, Malaysia and Taiwan, according to the Associated Press.
Continue Reading Below
The settlement being finalized will require the French telecom company to pay a $92 million penalty as part of a deferred prosecution agreement with the Justice Department and another $45 million to settle a related case with the Securities and Exchange Commission.
Three Alcatel subsidiaries are slated to plead guilty to violating the Foreign Corrupt Practices Act, according to the Associated Press. Prosecutors have said the bribes enabled the company to falsely win several major telecom contracts.