McKinsey and Company Africa Ltd, a subsidiary of McKinsey & Company Inc., will pay more than $122 million to resolve a US investigation into a bribery scheme involving government officials in South Africa, the Justice Department said on Thursday.
Privately-owned McKinsey was charged with one count of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act in relation to the actions, which took place between 2012 and 2016.
McKinsey Africa entered into a three-year deferred prosecution agreement with the Justice Department, the department said.
"McKinsey Africa bribed South African officials in order to obtain lucrative consulting business that generated tens of millions of dollars in profits," said Nicole M. Argentieri, head of the Justice Department’s Criminal Division.
Vikas Sagar, a senior former partner at McKinsey, previously pleaded guilty to one count of conspiracy to violate the act.
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