UPS Fined $45M for Overvaluing Freight Division
Originally Published 1 year ago — by Benzinga
UPS has agreed to pay a $45 million fine to the SEC for failing to properly value its UPS Freight business, which led to misrepresented earnings. The company will also implement compliance measures. Separately, BIT Mining will pay a $4 million fine for a bribery scheme aimed at influencing Japanese officials, violating the Foreign Corrupt Practices Act. The US Department of Justice has also imposed a $10 million criminal fine on BIT Mining, partially offset by the SEC penalty.