SEC tracks Ericsson’s money flows

A number of independent sources have informed Svenska Dagbladet that Ericsson is suspected of having made a number of payments via intermediaries to top executives at one of the company’s biggest customers, South African operator MTN. Ericsson is currently under investigation by the US Securities and Exchange Commission (SEC).

Ericsson spokesman Johannes Arvidson Persson tells SvD: “We cannot go into detail about the questions we have received from the US authorities and we can neither confirm nor deny individual countries or regions. We have previously said that the questions are related to the Foreign Corrupt Practices Act”.

In turn, MTN has told SvD that it is not aware of any illegal or unauthorised transactions between the companies, nor is it aware of any unauthorised exchanges or transactions between employees of MTN and Ericsson.