The corruption cases databases are a product of the staff of the International Bank for Reconstruction and Development / The World Bank. It is intended for general information purposes only. The findings, interpretations, and conclusions expressed in the Database do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. Neither the World Bank Group nor its officers or employees shall be liable for any losses that may result directly or indirectly from the use of or reliance upon such information.
Bribery of Foreign Officials; Falsification of Books and Records; Internal Controls Violations
No admission or denial of alleged offenses
According to the US Securities and Exchange Commission, the agency's "investigation found that Vicente E. Garcia, the former vice president of global and strategic accounts for SAP SE, orchestrated a scheme to pay $145,000 in bribes to one government official and promised to pay two others in order to obtain four contracts to sell SAP software to the Panamanian government. He essentially caused SAP, which is headquartered in Germany and executes most of its sales through a network of worldwide corporate partners, to sell software to a partner in Panama at discounts of up to 82 percent. The excessive discounts enabled the partner to create a slush fund from its excessive earnings on the other end of the sales and tap that money to pay the bribes to Panamanian government officials so SAP could sell the software. Garcia, who lives in Miami, also received kickbacks from the slush fund into his bank account." (Source: US SEC Press Release, "SEC Charges Former Software Executive With FCPA Violations," August 12, 2015.) Mr. Garcia was ordered to pay "disgorgement of $85,965, representing the kickback Garcia received in connection with the bribery scheme, and prejudgment interest of $6,430 to the Securities and Exchange Commission for transfer to the general fund of the United States Treasury subject to Exchange Act Section 21F(g)(3)." (Source: US SEC Administrative Proceeding File No. 3-16750, In the Matter of Vicente E. Garcia, August 12, 2015.)
US Securities and Exchange Commission, Administrative Proceeding File No. 3-16750, In the Matter of Vicente E. Garcia, August 12, 2015., at https://www.sec.gov/litigation/admin/2015/34-75684.pdf;
US SEC Press Release, "SEC Charges Former Software Executive With FCPA Violations," August 12, 2015, at https://www.sec.gov/news/pressrelease/2015-165.html
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