German software company SAP found compliance breaches and "indications of misconduct" in public sector deals in South Africa involving the Guptas, friends of former president Jacob Zuma accused of corruption, it admitted on Thursday.
The three executives SAP suspended last year has resigned, without severance pay.
SAP confessed it paid more than $8 million to intermediary companies controlled by the Guptas.
The company will end all sales commissions on public sector deals in countries with poor corruption ratings.
The Money Show’s Bruce Whitfield interviewed Bloomberg reporter Paul Burkhardt.
Burkhardt clarified what SAP admitted to today, and the consequences of the admission.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
They still have a pending investigation [by US authorities]… They say they don’t anticipate any sanctions there…— Paul Burkhardt, Bloomberg
It’s certainly not over…— Paul Burkhardt, Bloomberg
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