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SAN FRANCISCO – IBM Corp. has united to clear $10 meg to resolve allegations that it bribed South Asiatic and Asiatic polity officials for more than a decennium to win contracts.

The Securities and Exchange Commission accused the profession company of making roughly half that turn in acquire from the behavior.

Managers at an IBM supplementary and joint stake allegedly paying $207,000 in bribes to South Asiatic officials from 1998 to 2003. From 2004 until 2009, more than 100 IBM employees in China provided incorrect overseas trips, entertainment and other gifts for officials, the SEC alleged.

The SEC said demand of interior controls allowed IBM managers to use topical playing partners and movement agencies as conduits for bribes in those countries.

"IBM insists on the highest right standards in the carry of its playing and requires all employees to follow its policies and procedures for conducting business," the company supported in Armonk, N.Y., said in a statement.

The SEC's causa said that during the punctuation in question, IBM had joint policies in place prohibiting bribery but didn't ready faithful records of its payments in South Korea and China. The allegedly incorrect payments were transcribed as lawful playing expenses, according to the SEC.

IBM's stock chromatic $1.71, or 1.1 percent, to near weekday at $155.89 amid a broad-based feat on Wall Street.

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