Bosch has agreed to pay a $36 million fine to the U.S. government for exporting millions of dollars of restricted goods to Chinese company Huawei. File Photo by James Atoa/UPI | License Photo
June 18 (UPI) -- German engineering and technology firm Bosch has agreed to pay a $36 million fine to resolve federal allegations that it exported restricted products and software to China's Huawei.
Federal prosecutors announced the agreement Wednesday, saying the Bosch resolution was the National Security Division's first declination under the Justice Department's new corporate self-disclosure policy. The company has agreed to forfeit the $11.4 million in profits it made in the alleged transactions, with a portion being credited against the fine.
As a result, the NSD has declined to prosecute the company.
"This declination reflects the clear benefits for companies that promptly disclose potential violations and fully assist in our investigations," Assistant Attorney General for National Security John Eisenberg said in a statement.
