On July 15, 2015, the man and the U.S. Securities and Exchange Commission (SEC) entered into a settlement of the parallel SEC investigation in which Garcia agreed, among other things, to pay disgorgement of $85,965 plus prejudgment interest. For this reason, the United States did not request, and the court did not order, forfeiture in the criminal action.
In his plea, the man admitted that in late 2009, to secure a multimillion-dollar contract to provide a Panamanian state agency with a technology upgrade package, the man conspired with others to bribe two Panamanian government officials directly and a third official through an agent.
The man admitted that the conspirators used sham contracts and false invoices to disguise the true nature of the bribes and that he believed paying such bribes was necessary to secure the initial and any future Panamanian government contracts. Panamanian officials awarded the $14.5 million contract, which included $2.1 million in SAP software licenses, to SAP’s partner as well as subsequent contracts that also included the provision of SAP products. The man personally received over $85,000 in kickbacks for arranging the bribes.
To read the entire DOJ Press Release please follow this link: 22 Months for FCPA Violations