Wipro To Pay $5 Mn To Close Six-Year-Old US Securities Probe

Software major Wipro said it had agreed to pay a civil penalty worth $5 million to the US Securities and Exchange Commission (SEC) to resolve a six-year investigation on account of embezzlement of funds by an employee.

“Wipro’s decision to reach a settlement with the US SEC could well be a measure to play safe, anticipating the new administration in the US,” said Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research

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