McKinsey subsidiary will pay $122M for scheme to bribe South African officials, US says ...Middle East

WASHINGTON (AP) — An African subsidiary of the consulting firm McKinsey & Company Inc. will pay a criminal penalty of more than $122 million to resolve a U.S. Justice Department investigation into a yearslong scheme to bribe South African government officials, U.S. authorities said Thursday. The scheme involved bribes to officials with South Africa’s state-owned and state-controlled custodian of ports, rails, and pipelines, as well as its state-controlled energy company in order to secure contracts, according to the Justice Department. It netted McKinsey Africa and its parent company $85 million in profits between 2012 and 2016, officials said. The Justice Department has entered into a defe

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