Hewlett-Packard to Pay $16.5 Million to Settle Fraud Investigation

Thursday Nov 11th 2010 by Datamation.com Staff
Share:

The payout ends a federal investigation into allegations that HP bribed school officials in Texas in order to secure contracts totaling $17 million.

LA Times: HP has reached a settlement with the FCC and U.S. Department of Justice regarding allegations that the company bribed school officials in order to secure lucrative contracts through the federal E-Rate program. HP and its contractors reportedly gave school officials in Dallas and Houston lavish gifts, including meals, trips on a yacht and tickets to the 2004 Super Bowl, in exchange for information that helped HP obtain $17 million worth of government sales.

Under the terms of the settlement, HP will pay $16.5 million, most of which will go to the E-Rate program. The FCC will oversee HP's future activities to make sure the company does not violate rules again.

Share:
Home
Mobile Site | Full Site
Copyright 2017 © QuinStreet Inc. All Rights Reserved