Analogic Ends Foreign Bribery Charges Against Distributor

Massachusetts medical device maker Analogic agreed to pay nearly $15 million to settle civil and criminal actions involving Foreign Corrupt Practices Act violations.

The SEC found the company’s Danish subsidiary, BK Medical, ran hundreds of phony transactions with distributors to funnel roughly $20 million to third parties, “including individuals in Russia and apparent shell companies in Belize, the British Virgin Islands, Cyprus, and Seychelles.”

 “Analogic’s subsidiary, BK Medical, allowed itself to be used as a slush fund for its distributors, funneling millions of dollars around the world at its distributors’ direction without knowing the purpose of the payments or anything about the recipients,” the SEC said.