Oracle used slush funds to bribe officials in India, United Arab Emirates and Turkey.

Oracle used slush funds to bribe officials in India, United Arab Emirates and Turkey in return for business between 2016 and 2019, according to the SEC.

“The creation of off-book slush funds inherently gives rise to the risk those funds will be used improperly, which is exactly what happened here at Oracle's Turkey, UAE, and India subsidiaries.

Oracle has agreed to pay $8 million in disgorgement and the rest of $15 million is the penalty out of the total $23 million, according to SEC.
Though it did not admit or deny wrongdoing in agreeing to settle.

According to the SEC order, one of the employees involved in the transaction maintained a spreadsheet that indicated that a buffer of $67,000 was available to potentially make payments to Indian officials of the state-owned enterprise (SOE).
Source: NDTV
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