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McKinsey unit will pay $123 million to settle claims it bribed South African officials

By CNBC   |   2 weeks ago
McKinsey unit will pay $123 million to settle claims it bribed South African officials

A McKinsey & Company subsidiary agreed to pay $123 million to settle bribery claims in South Africa. Former partner Vikas Sagar pleaded guilty to conspiracy. The subsidiary bribed officials to secure consulting contracts, resulting in $85 million in profits. McKinsey Africa accepted responsibility in a deferred prosecution agreement.

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