The maker of a $100 billion deal to pay billions to settle a federal bribery case will pay a $25 million fine to settle the matter.
A&,m will pay $25M fine in settlement of bribery caseThe Federal Trade Commission has announced it is investigating whether Yahoo Finance, which is based in Atlanta, improperly collected and paid bribes to secure contracts for its technology and advertising businesses, including one to the U.S. Postal Service.
A former executive, Richard Sussman, was sentenced in November to 20 months in prison for his role in a scheme to bribe Yahoo Finance to approve the purchase of the company by a company owned by his brother, who also runs Yahoo Finance.
Richard Sussmann is the CEO of Yahoo Finance and is facing charges that he accepted bribes from a Chinese company.
The U.K. has also launched a separate investigation into Sussmans involvement.
Yahoo Finance did not immediately respond to requests for comment.
In addition to the $25m fine, Yahoo Finance has agreed to forfeit $60 million to the FTC.
The SEC is also investigating whether the company violated the False Claims Act.
The agency said it had filed a civil complaint against Yahoo Finance in November.
In September, the FTC reached a $2 billion settlement with former Google engineer James Damore, who was fired from Google over his views on gender discrimination.
The FTC said Damore had not been given a fair and impartial hearing.