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April 6, 2004

Lucent reveals problems in China operation

Lucent Technologies Inc yesterday revealed that four top executives at its China unit had been "separated" from the company after it had uncovered activities that could potentially violate the US' Foreign Corrupt Practices Act.

By CBR Staff Writer

The telcoms equipment supplier said in an SEC filing that following the disclosure of possible violations of the FCPA at its Saudi Arabia operation, it had launched a compliance audit across a range of its overseas operations.

Lucent said the audit had found incidents and internal control deficiencies in its operations in China that potentially involve FCPA violations.

Action had been taken to improve controls and policies to prevent any future incidents, said Lucent. In addition, it said, four people at the China operation involved in the incidents are being separated from the company, including the president, COO, a marketing executive and a finance manager. Lucent is looking for a new president for its China operation, which in the meantime will report to Lucent’s president of global sales.

Lucent said it did not think the affair would have any material effect on its financial results.

This article is based on material originally published by ComputerWire

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