SAP to Pay $230 Million to Settle Foreign Bribery Investigations

SAP Gotta Shell Out Big Bucks, Brah!

Aloha, braddahs and sistahs! Christian Klein, da big kahuna o’ da software company SAP, stay standin’ on top da podium, eyes glued to his cell phone, jus’ befo’ dey kick off da company’s Annual General Meeting. 📱

SAP, dat humongous German tech gigah, worth like $192 billion, dey goin’ pay out mo’ dan $230 million fo’ settle one mean investigation, cuz dey wen’ do plenty shady business ’round da world, like true recidivist hustlahs, and da U.S. authorities, dey wen’ spill da beans, braddahs and sistahs! 💼💰

Da company, dey goin’ make one three-year deferred prosecution deal wit’ da feds, ’cause da Justice Department stay pointin’ fingers at SAP, sayin’ dey wen’ break da Foreign Corrupt Practices Act, tryin’ fo’ grease da palms of government peeps in Indonesia and South Africa. 💼🌍

Nicole Argentieri, da acting assistant attorney general, she say, “SAP wen’ grease da wheels fo’ get dat sweet government business, givin’ kickbacks to state-owned enterprises in South Africa and Indonesia, brah!” 💸💼🤝

Da Justice Department, dey spill da beans, say SAP and deir crew, dey wen’ butter up government peeps in dose places wit’ cold hard cash, political donations, fancy stuff, and shoppin’ sprees, like dey stay ballin’! 💵👜🎩

But wait, get mo’ to dis story! SAP, dey goin’ drop one $98 million disgorgement check to da Securities and Exchange Commission (SEC), ’cause da SEC, dey say SAP wen’ play dirty by recordin’ dem bribes to officials in Azerbaijan, Ghana, Indonesia, Malawi, Kenya, and South Africa, like dey was legit business expenses! 😱💼💸

So, aftah SAP break bread wit’ da SEC, da Justice Department, and even South African prosecutors, dey goin’ cough up mo’ dan $235 million, braddahs and sistahs! 💰💸

Regulators wen’ lay it out, and some of SAP’s moves sound like somethin’ from one spy novel, no joke! In one case, da SEC say, one account executive at SAP’s Indonesian branch, he wen’ slip bribes to da peeps at da Maritime Affairs and Fisheries ministry. And fo’ hand ova dem bribes, one “freelance consultant” told ’em, “You bettah have seventy million in fifty thousand bills… Bring one empty envelope.” 🕵️💼💸

Anotha time, SAP’s South African branch, dey wen’ strike one deal worth $29 million wit’ Eskom, da big energy kahuna in South Africa. But da SEC, dey wen’ find mo’ dan $6.7 million in shady payments goin’ to “consultants” who nevah even lift one fingah to help out. 🤔💡💰

Dis settlement, braddahs and sistahs, dis one of da biggest kine we evah seen! Dis ain’t da first rodeo fo’ SAP, either. Back in 2016, dey wen’ hand ova ’bout $3.7 million in profit to da SEC ’cause dey was caught up in one bribery scheme down in Panama. 😳💼💸

Now, we been waitin’ fo’ dis settlement fo’ a while, at least since June when SAP wen’ set aside ’bout $186 million, tinkin’ dey might gotta pay da piper fo’ all dis bribery mess. 💰💼

SAP, dey say dey wen’ play nice and cooperate wit’ da authorities, and now, wit’ dese settlements, all da compliance headaches in da United States and South Africa, dey pau already! A SAP spokesperson, dey chimed in, sayin’, “We stay good now, brah!” 🤙💼

So, dat’s da scoop, braddahs and sistahs. SAP gotta dig deep into deir pockets and shell out big time, all ’cause dey wen’ get caught up in some shady business dealings. It’s one cautionary tale fo’ all da uddah big kahunas out deah. You bettah keep it clean, or da authorities goin’ come knockin’ on yo’ door, and you ain’t gonna like what dey bring wit’ ’em! 💼💰🚔

Stay safe out deah, and no get caught slippin’, folks! 🌴🌺🏝️

NOW IN ENGLISH

SAP to Pay $230 Million to Settle Foreign Bribery Investigations

Title: SAP Faces Significant Settlement Over Alleged Shady Business

Greetings, brothers and sisters! Christian Klein, the CEO of the software company SAP, was seen on his cellphone just before the commencement of the company’s Annual General Meeting. SAP, the massive German tech giant valued at approximately $192 billion, is set to pay over $230 million to settle a major investigation into its questionable global business practices. The U.S. authorities have exposed SAP’s wrongdoings, resembling repeat offenders.

The company has entered into a three-year deferred prosecution agreement with the U.S. Department of Justice, which has accused SAP of violating the Foreign Corrupt Practices Act by attempting to bribe government officials in Indonesia and South Africa.

Nicole Argentieri, the acting assistant attorney general, stated, “SAP attempted to influence government officials by providing kickbacks to state-owned enterprises in South Africa and Indonesia.”

According to the Justice Department, SAP and its associates engaged in bribery by offering cash, political contributions, luxury items, and extravagant shopping sprees to government officials in these regions.

But there’s more to this story! In addition to the settlement with the Justice Department, SAP will pay a disgorgement fee of $98 million to the Securities and Exchange Commission (SEC). The SEC alleges that SAP recorded these bribes to officials in Azerbaijan, Ghana, Indonesia, Malawi, Kenya, and South Africa as legitimate business expenses.

So, after reaching agreements with the SEC, the Justice Department, and even South African prosecutors, SAP will pay over $235 million.

Regulators have outlined some of SAP’s actions, which sound like they are straight out of a spy novel. For instance, the SEC claims that an account executive at SAP’s Indonesian branch offered bribes to officials at the Maritime Affairs and Fisheries ministry, with one “freelance consultant” demanding, “You better have seventy million in fifty thousand bills… Bring an empty envelope.”

Another incident involves SAP’s South African branch striking a $29 million deal with Eskom, South Africa’s major energy company. However, the SEC discovered over $6.7 million in questionable payments to “consultants” who had not provided any assistance.

This settlement, my friends, is one of the largest we’ve ever witnessed. This isn’t SAP’s first encounter with such issues; back in 2016, they paid approximately $3.7 million in profits to the SEC for their involvement in a bribery scheme in Panama.

We’ve been waiting for this settlement since June when SAP set aside around $186 million, anticipating potential liabilities for their involvement in these bribery allegations.

SAP claims to have cooperated with the authorities and resolved all compliance issues in the United States and South Africa through these settlements. A spokesperson for SAP stated, “We are now in good standing.”

So, there you have it, brothers and sisters. SAP is facing a substantial financial penalty due to their involvement in questionable business dealings. It serves as a cautionary tale for other major players. Keep your operations clean, or you may find authorities knocking on your door with unwelcome consequences.

Stay vigilant out there, and don’t get caught off guard, folks!