Chinese telecommunications equipment maker ZTE may have to pay more than $1 billion to the US government to settle long-running allegations of overseas bribery. ZTE previously paid about $2 billion to US authorities during former President Donald Trump’s first term for export-control violations. According to sources, the US Department of Justice launched an investigation into ZTE earlier this year, alleging potential violations of the Foreign Corrupt Practices Act (FCPA) in South America and other regions. The law prohibits offering bribes or anything of value to foreign officials in exchange for business advantages. On Thursday, ZTE issued a statement saying its board is aware of recent media reports about an FCPA-related compliance investigation involving the company. It said the company is in communication with the US Department of Justice on the matter and will use legal measures to firmly safeguard its rights and interests. [Icsmart, in Chinese]
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