Global tech services company Cognizant Technology Solutions Corp. has agreed to pay a $25 million civil penalty to settle allegations that it violated the Foreign Corrupt Practices Act, the U.S. Securities and Exchange Commission announced Friday.
The New Jersey-based Fortune 200 company’s former chief legal officer, Steven Schwartz, and its ex-president, Gordon Coburn, now face criminal charges for allegedly authorizing a building contractor to pay more than $3.6 million in bribes to a government official in India. The alleged payments were for a permit to build a 2.7 million-square-foot campus in Chennai, India.
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