{
Vikas Sagar

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McKinsey to Pay 123 Million to Settle South Africa Bribery Claims

McKinsey Africa has agreed to pay $123 million to settle allegations of bribing South African officials to secure consulting contracts between 2012 and 2016. A former senior partner, Vikas Sagar, pleaded guilty to conspiracy to violate the Foreign Corrupt Practices Act, admitting the firm engaged in a long-running bribery scheme that netted approximately $85 million in profits. The subsidiary has entered a three-year deferred prosecution agreement, committing to improve its compliance controls and accept responsibility for its actions.
CNBC
United States Dollar Transnet SOC Ltd. McKinsey & Company Inc. Eskom Holdings Soc Ltd. ZAF USA Vikas Sagar Chad Yarbrough Show more
Regulatory & Legal, Press Release
21:00 05.12.2024
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