IBM Argentina slapped with fines for graft

GMT 22:58 2015 Saturday ,14 March

Arab Today, arab today IBM Argentina slapped with fines for graft

Court in Argentina has slapped a $9.3m fine on IBM's
Buenos Aires - AFP

A court in Argentina has slapped a $9.3 million fine on IBM's local subsidiary for allegedly seeking to win a contract to computerize the country's tax collection system, authorities said Saturday.
Eleven people have been charged in the case that dates back to 1988-89. They will stand trial on March 15, 2016, the justice ministry said.
Prosecutors say IBM did not have the best offer in the government's bidding process, yet still won. It was paid one amount, then paid another company -- STI -- a smaller sum to do the job and kept the difference, they say.
The fine was meant to return to the state the amount that may have been "overbilled" as a bribe payment, government justice portal Infojus reported.

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