SEC Charges Oracle Corporation with FCPA Violations Related to Secret Side Funds in India

SEC charged Oracle Corporation with violating the Foreign Corrupt Practices Act (FCPA) by failing to prevent a subsidiary from secretly setting aside money off the company's books that was eventually used to make unauthorized payments to phony vendors in India.

View press release in full here (links externally to SEC website). Additional Materials: SEC Complaint. See also: August 14 news entry.