Philips pays fine for corruption

Philips has to pay a 4.5-million-dollar fine due to bribery and corruption, the NOS (Dutch public broadcaster) announced.

Philips is accused of bribing Polish healthcare officials in order to increase the likelihood that these officials would buy Philips equipment.Philips Healthcare headquarters are based in the United States. Philips Electronics is a publicly listed company on the New York stock exchange, reason why the US financial watchdog Securities and Exchange Commission (SEC) investigated the case.

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