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Top related persons:
Vikas Sagar - 2 Sagar - 2 Nicole M - 1 Argentieri - 1 McKinsey - 1 Felix Dlangamandla - 1 Chad Yarbrough - 1
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McKinsey Africa Africa South Africa Transnet of New York Eskom South Southern
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McKinsey - 2 McKinsey Africa - 2 of - 2 DoJ - 1 US Justice Department - 1 The Justice Department - 1 South - 1 Department's - 1

Search resuls for: "Vikas Sagar"


2 mentions found


☆ McKinsey agrees to pay $122 million to settle South African bribery charges in the US
  + stars: | 2024-12-06 | by ( Polly Thompson | ) www.businessinsider.com   time to read: +3 min
AdvertisementConsulting firm McKinsey has agreed to pay over $122 million to settle bribery claims. The plan earned McKinsey and McKinsey Africa profits of about $85 million, the US DoJ said. McKinsey has agreed to pay more than $122 million to settle bribery claims stemming from its work in South Africa, the US Justice Department said in a statement on Thursday. The Justice Department said that McKinsey and McKinsey Africa earned profits of about $85 million as a result of the arrangement. AdvertisementMcKinsey and Company Africa operates in South Africa as a wholly owned and controlled subsidiary of the international consulting firm.
Persons: Nicole M, Argentieri, Vikas Sagar, Sagar, McKinsey, Felix Dlangamandla Organizations: McKinsey, DoJ, US Justice Department, The Justice Department, McKinsey Africa, of, South, Department's, Company Africa Locations: McKinsey Africa, Africa, South Africa, Eskom, South, Transnet, Southern, of New York, Sandton
☆ McKinsey unit will pay $123 million to settle claims it bribed South African officials
  + stars: | 2024-12-05 | by ( Kevin Breuninger | ) www.cnbc.com   time to read: +3 min
A subsidiary of top global consulting firm McKinsey & Company agreed to pay nearly $123 million to settle claims that it bribed government officials in South Africa, the U.S. Department of Justice said Thursday. Federal prosecutors also unsealed a 2022 guilty plea by Vikas Sagar, a former senior partner at McKinsey who worked in the subsidiary's South Africa office. The bribery scheme helped McKinsey and McKinsey Africa net approximately $85 million in profits, according to prosecutors. The deferred prosecution agreement requires McKinsey Africa to accept responsibility for the allegations. "McKinsey welcomes the resolution of these matters and the closure of this regretful situation," McKinsey Africa said in a statement Thursday.
Persons: Vikas Sagar, Chad Yarbrough, Sagar Organizations: McKinsey & Company, Mobile World Congress, MWC, U.S . Department of Justice, McKinsey, Southern, of, DOJ, Prosecutors, Transnet, Eskom Holdings, McKinsey Africa, FBI Locations: Barcelona, South Africa, Africa, Sagar, Johannesburg, U.S, of New York, McKinsey Africa, Transnet
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