4. ZTE-NBN Network Bribery Case
Amount: $197 million
Year: 2008
The above number stands for how much the contract with the Chinese government was overpriced. Naturally, the money was intended to go to the criminals’ pockets. ZTE stands for Zhongxing Telecommunication Equipment Co., a Chinese government-backed corporation, and it was supposed to develop a nationwide broadband network (NBN). The whole deal’s worth was $329.4 million. In short, something went wrong with the plan and suspicions arose when the contract mysteriously vanished into thin air just one day after it was signed.
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