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Elbit pays $500,000 fine to settle FCPA case with US SEC in Romanian real estate matter

( March 9, 2018, 23:32 GMT | Official Statement) -- MLex Summary: Elbit Imaging, an Israeli firm with international real estate interests, settled a books and records violation of the US Foreign Corrupt Practices Act with the Securities and Exchange Commission, paying a $500,000 fine. The SEC said that Elbit and its subsidiary Plaza paid $27 million to three independent parties in Romania "despite having no evidence that these counter-parties actually provided any of the contracted for services." In its order, the SEC said, "some or all of the funds may have been used to make corrupt payments to Romanian government officials or were embezzled." Elbit trades in the US on NASDAQ. Elbit self-reported the matter to US and Romanian officials, the SEC said.Please see attached document....

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