SHARE
Facebook X Pinterest WhatsApp

Oracle Pays $2 Million SEC Fine to Settle India Corruption Case

Cnet: The SEC has fined Oracle $2.2 million on charges that the company’s India unit misused funds. Specifically, the SEC charged that the Indian division set up slush funds to hold $2.2 million in “unauthorized side funds.” Employees then manufactured phony invoices, which distributors paid. The SEC noted, “The third-party payments created the risk that […]

Aug 17, 2012
Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More

Cnet: The SEC has fined Oracle $2.2 million on charges that the company’s India unit misused funds. Specifically, the SEC charged that the Indian division set up slush funds to hold $2.2 million in “unauthorized side funds.” Employees then manufactured phony invoices, which distributors paid. The SEC noted, “The third-party payments created the risk that the funds could be used for illicit purposes such as bribery or embezzlement.”

By paying the fine, Oracle has settled the charges.

This is Oracle’s third major legal setback of the summer. Earlier, Oracle lost its Java-related lawsuit against Google, and it also lost the first portion of the Itanium-related lawsuit against HP.

  SEE ALL
ARTICLES
 

Recommended for you...

What Is Sentiment Analysis? Essential Guide
11 Top Data Collection Trends Emerging In 2024
Kaye Timonera
Feb 8, 2024
6 Top Data Classification Trends
Avya Chaudhary
Oct 13, 2023
7 Data Management Trends: The Future of Data Management
Mary Shacklett
Aug 2, 2023
Datamation Logo

Datamation is the leading industry resource for B2B data professionals and technology buyers. Datamation's focus is on providing insight into the latest trends and innovation in AI, data security, big data, and more, along with in-depth product recommendations and comparisons. More than 1.7M users gain insight and guidance from Datamation every year.

Property of TechnologyAdvice. © 2025 TechnologyAdvice. All Rights Reserved

Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.