An African subsidiary of consulting firm McKinsey & Company Inc. will pay a criminal fine of more than $122 million to end a U.S. Justice Department investigation into a years-long bribery scheme of South African officials, U.S. authorities said Thursday.
The Justice Department says the scheme involved paying bribes to officials at the South African government and the state-controlled agency responsible for ports, railways and pipelines, as well as the state-controlled energy company, in order to secure contracts. This netted McKinsey Africa and its parent company $85 million in profits between 2012 and 2016, officials say.
The Justice Department has entered into a deferred…
