BCG Admits to Bribery in Angola, Returns $14.4M

Boston Consulting Group (BCG) has admitted to paying bribes to secure consulting business in Angola. The U.S. firm has agreed to return $14 million in profits as part of an agreement with the Department of Justice (DOJ). The DOJ decided not to prosecute BCG due to the firm's self-disclosure of the misconduct, cooperation, and remediation efforts. Additionally, BCG rescinded equity for partners involved in the misconduct, which was praised as part of their compliance measures. The firm disgorged more than $14.4 million.