Dec 5, 05:33 PM

Barclays Settles $19.5M Fraud Lawsuit, McKinsey Pays $122M for South African Bribery

Barclays, a British bank, has agreed to pay $19.5 million to settle a lawsuit in Manhattan by shareholders who accused the bank of securities fraud after it sold $17.7 billion more debt than was permitted by regulators. In a separate case, McKinsey & Company's Africa branch will pay over $122 million to resolve probes into bribery of South African government officials to secure lucrative government contracts. McKinsey has expressed deep remorse over the actions of an employee involved in the corrupt conduct.

#Barclays #British #Manhattan #Africa #South African #McKinsey

Written with ChatGPT .

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CNBC@CNBC
1 year ago
McKinsey unit will pay $123 million to settle claims it bribed South African officials https://t.co/0VFxtGowTD
Stephen Foley@stephenfoley
1 year ago
"McKinsey is deeply remorseful that an employee of our firm engaged in corrupt conduct." McKinsey pays $122mn to resolve probes into South Africa bribes https://t.co/5ZdwimDPbf
Gabriel Noronha@GLNoronha
1 year ago
BREAKING: McKinsey and its Africa branch must pay DOJ $122 million after it was caught bribing South Africa officials to earn lucrative government contracts. Press release: https://t.co/2YinHQjo1m https://t.co/DuBgO3mxHs https://t.co/kSkz3xVfA8

Barclays Settles $19.5M Fraud Lawsuit, McKinsey Pays $122M for South African Bribery

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