(Reuters) — The record $279 million whistleblower award issued by the U.S. Securities and Exchange Commission earlier this month stemmed from a bribery case against Swedish telecommunications company Ericsson, the Wall Street Journal reported on Friday.
The award from the regulator’s cash-for-tips program was related to the $1.1 billion settlement the company reached with U.S. authorities in 2019 over allegations it conspired to make illegal payments to win business in five countries, according to the report , citing people familiar with the subject.
The SEC declined to comment, while Ericsson did not immediately respond to Reuters’ request for comment.
The regulator did not name the enforcement action underlying the award and did not identify the whistleblower in accordance with whistleblower protection rules.
In 2019, Ericsson agreed to pay more than $1 billion to settle corruption investigations, including bribery of government officials in countries such as China, Vietnam and Djibouti.