Medical device maker Smith & Nephew yesterday agreed to pay $22.2m (£14m) to settle allegations that its subsidiaries paid bribes to win business in Greece. The US Justice Department and SEC said the firm charged a Greek distributor full price for its products, then paid to shell companies the amount of discounts usually given. The money sent to the shells was used to bribe publicly employed Greek healthcare providers, according to court papers.
Smith & Nephew settles bribe case
Tuesday 7th February 2012, 3:01am
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