McKinsey to Pay $122 Million in South Africa Bribery Case [Yahoo! Finance]
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Source: Yahoo! Finance
Most Read from Bloomberg NYC's Run-Down Bus Terminal Gets Approval for $10 Billion Revamp Kansas City Looks Back on its Long, Costly Ride With Microtransit As Wars Rage, Cities Face a Dark New Era of Urban Destruction The US Justice Department agreed not to proceed with a case against the consulting firm if it engages in no further misconduct for 3 1/2 years, federal prosecutors and defense lawyers said at a Thursday court hearing in New York. The agreement resolves both a US investigation and charges brought against McKinsey by South Africa's National Prosecuting Authority. The Justice Department credited 50% of the penalty to South Africa, NPA spokesman Mthunzi Mhaga said in a text message. An amount of approximately 1.1 billion rand ($61 million) will be paid into the country's Criminal Assets and Recovery Account. McKinsey pleaded not guilty to a single count of conspiracy on Thursday before US District Judge Colleen McMahon. The firm said in a statement that it wil
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