Panasonic Avionics Corporation Agrees to Pay $137 Million to Resolve Foreign Corrupt Practices Act C

U.S. Department of Justice press release ------- Panasonic Avionics Corporation (PAC), a subsidiary of multinational electronics company Panasonic Corporation (Panasonic), has agreed to pay a $137.4 million criminal penalty to resolve charges arising out of a scheme to retain consultants for improper purposes and conceal payments to third-party sales agents, in violation of the accounting provisions of the Foreign Corrupt Practices Act (FCPA). Acting Assistant Attorney General John P. Cronan of the Justice Department’s Criminal Division and Acting Assistant Director Christopher Hacker of the FBI’s Criminal Investigative Division made the announcement. To learn more click on the picture below to read the release.