JPMorgan on Thursday agreed to pay more than $264 million to US authorities to settle charges that it bribed officials in the Asia-Pacific region to win business, ending a nearly three-year-long investigation.
The charges alleged that JPMorgan gave jobs and internships to friends and family of corrupt government officials, which would be a violation of the Foreign Corrupt Practices Act.
“During a seven-year period, JPMorgan hired approximately 100 interns and full-time employees at the request of foreign government officials, enabling the firm to win or retain business resulting in more than $100 million in revenues to JPMorgan,” the Securities and Exchange Commission wrote in a press release.
Following the announcement, the SEC released documents used to argue its case.
Here are some of the highlights (h/t Ben McLannahan from the Financial Times):
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