Bruker Corp., based in Massachusetts with operations in Fitchburg, has agreed to pay a $2.4 million fine to settle U.S. Securities and Exchange Commission charges that it made improper payments to Chinese government officials. According to a story in the Wisconsin State Journal, the SEC ruled that Bruker “lacked sufficient internal controls to prevent and detect” payments totaling $230,000 from the company’s office in China to Chinese officials for leisure travel to the U.S. and Europe. The payments, recorded as collaboration agreements, resulted in $1.7 million in profits from sales contracts with state-owned Chinese companies.
Bruker self-reported the improprieties and agreed to the order without admitting or denying guilt.
