Oracle (ORCL) is paying $2M to settle SEC allegations its Indian subsidiary violated bribery...

|About: Oracle Corporation (ORCL)|By:, SA News Editor

Oracle (ORCL) is paying $2M to settle SEC allegations its Indian subsidiary violated bribery laws. The SEC alleged Oracle India kept some of the funds generated from deals with local distributors from '05 to '07 off the books, and subsequently used those funds to make payments to third parties. Some of those third-parties turned out to be non-existent businesses or mere storefronts.