The Securities and Exchange Commission has accused Orthofix’s subsidiary of paying the government-run Instituto Mexicano del Seguro Social with “chocolates,” including cash, laptop computers and televisions, in exchange for sales contracts with hospitals. The bribes turned an estimated $5 million in illegal profits for Orthofix, the SEC said.
According to the report, Orthofix was internally alerted to the bribery scheme, self-reported the scheme to the SEC and fired the executives involved with the plot.
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