Wipro To Pay $5 Mn To Close Six-Year-Old US Securities Probe

Software major Wipro said it had agreed to pay a civil penalty worth $5 million to the US Securities and Exchange Commission (SEC) to resolve a six-year investigation on account of embezzlement of funds by an employee.

“Wipro’s decision to reach a settlement with the US SEC could well be a measure to play safe, anticipating the new administration in the US,” said Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s