The Securities and Exchange Commission announced Tuesday that Oracle will pay millions to settle charges related to the Foreign Corrupt Practices Act.
Signage is displayed on a building at the Oracle Corp. headquarters campus in Redwood City, California, U.S., on Monday, March 14, 2016.
The Turkey and UAE subsidiaries were also accused of paying for foreign officials to attend conferences, with some Turkey subsidiary employees allegedly using the slush funds to pay for officials' families to go with them or visit"The conduct outlined by the SEC is contrary to our core values and clear policies, and if we identify such behavior, we will take appropriate action," Michael Egbert, vice president of Oracle corporate communications, told FOX Business.