SAP: Probe finds signs of Gupta-linked misconduct
Software giant SAP says has reported its Gupta-linked activities to US authorities for further investigation.
In a statement released on Thursday, the company said it has also taken disciplinary action against three employees.
The company allegedly made large payments to the Gupta family in order to secure contracts with Transnet and Eskom.
According to SAP, the investigation has not revealed any evidence of a payment to a South African government official, including Transnet and Eskom employees. It has, however, uncovered indications of misconduct.
"As a global company with a commitment to integrity and compliance, the past three months have been humbling for us," says Adaire Fox-Martin, member of the SAP executive board. "The allegations of wrongdoing in our South African business have had a profound impact on our employees, customers and partners, and on the South African public and we apologize wholeheartedly for this."
Fox-Martin says SAP will co-operate fully with the U.S. Department of Justice and the U.S. Securities and Exchange Commission.
"We cannot emphasize enough how seriously the SAP Executive Board takes these allegations, or how committed we are to managing this process in a transparent, ethical and responsible way."
SAP has also decided to remove sales commissions on all public sector deals in high-risk countries, including South Africa.