Danish BK Medical ApS pays millions in fine for possible bribery, fraud, tax evasion and violation of US accounting legislation
Department of Justice
Office of Public Affairs
Office of Public Affairs
FOR IMMEDIATE RELEASE
Tuesday, June 21, 2016
Analogic Subsidiary Agrees to Pay More than $14 Million to Resolve Foreign Bribery Charges
A subsidiary of Massachusetts technology company Analogic Corporation entered into a non-prosecution agreement and agreed to pay a $3.4 million penalty today to resolve the government’s investigation into improper payments made in Russia and elsewhere in violation of the Foreign Corrupt Practices Act (FCPA), announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division and U.S. Attorney Carmen M. Ortiz of the District of Massachusetts.
According to admissions made in the resolution documents, BK Medical ApS, a manufacturer of ultrasound equipment headquartered in Denmark, engaged in a scheme with its distributor in Russia to make improper payments to third parties using fictitious invoices, falsely book those third-party payments and cause Analogic to falsify its books and records. BK Medical admitted that, as part of the scheme, after the terms of a sale had been agreed upon, the distributor requested that BK Medical issue invoices that falsely inflated the sales price on the equipment. The distributor then overpaid BK Medical the inflated amount and BK Medical transferred the excess funds to third parties as directed by the distributor, the company admitted. BK Medical had no legitimate business relationship with those third parties and had not conducted due diligence on them, it admitted. According to admissions in the resolution documents, at least some of these payments ultimately went to doctors employed by Russian state-owned entities. Although the scheme involving its Russian distributor was the most extensive, BK Medical also admitted that it engaged in similar schemes with distributors in five other countries. BK Medical admitted that its conduct – creating and maintaining these fictitious invoices, representing to Analogic that BK Medical was complying with all Analogic accounting policies and signing Sarbanes-Oxley subcertifications – caused Analogic to falsify its books, records and accounts in violation of the FCPA.
Read more: https://www.justice.gov/opa/pr/analogic-subsidiary-agrees-pay-more-14-million-resolve-foreign-bribery-charges
Read more: https://www.sec.gov/news/pressrelease/2016-126.html
kl. 06.15 - DR
Dansk firma betaler gigantbøde for at undgå sag om bestikkelse
Den danske virksomhed BK Medical har betalt en rekordhøj bøde til de amerikanske myndigheder i juni for at undgå en retssag om mulig korruption.
DR - Denmark's national broadcasting corporation:
Read more: http://www.dr.dk/nyheder/penge/dansk-firma-betaler-gigantboede-undgaa-sag-om-bestikkelse
Company Overview of BK Medical ApS
BK Medical ApS develops, manufactures, and markets medical solutions for urological and surgical diagnostic ultrasound systems and supplies for various clinical applications. It also offers ultrasound systems and transducers; and accessories. The company’s products are used to treat ultrasound guided prostate brachytherapy, prostate cryotherapy, radio frequency ablation, and renal cryotherapy, as well as for other applications, such as pelvic floor. The company serves surgery, urology, anesthesia, women's health, colorectal, general ultrasound, radiology, and musculoskeletal markets. It offers its products through subsidiary sales companies in Belgium, Germany, Italy, the Nordic countries, a...