Millicom International's TIGO Guatemala Unit Pays $118 Million to Settle Foreign Bribery Probe

MT Newswires Live12-15 18:27

Millicom International Cellular's (TIGO) Comunicaciones Celulares unit, also known as TIGO Guatemala, has paid more than $118 million to resolve the US Justice Department's probe into "a long-running scheme" to bribe Guatemalan government officials, the Justice Department said Friday.

The Justice Department also said the company signed a two-year deferred prosecution agreement for a count of conspiracy to violate anti-bribery laws. As part of this deal, the unit agreed to pay a $60 million penalty and about $58.2 million in administrative forfeiture.

Millicom and the unit also agreed to continue cooperating with authorities in any ongoing or future criminal investigation over the term of the deferred prosecution agreement, the Justice Department said.

According to the Justice Department, court documents showed that TIGO Guatemala engaged in a bribery scheme between 2012 and 2018, led by its then-Guatemalan shareholder and other former senior officials.

Millicom International Cellular and TIGO Guatemala did not immediately respond to MT Newswires' requests for comments.

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