Uber discloses FCPA investigation

Uber Technologies, Inc. said Thursday the U.S. Department of Justice is investigating possible FCPA violations related to its activity in Asia.

According to Uber’s S-1 filing, the DOJ is investigating potential bribes in countries including Indonesia, Malaysia, China, and India.

In Indonesia, the ride-hailing company is being investigated for allegations of small payments to police, and “other potential improper payments.”

Here is the text from Uber’s S-1 filed April 11, 2019, courtesy of FCPA Tracker:

We received requests from the DOJ in May 2017 and August 2017 with respect to an investigation into allegations of small payments to police in Indonesia and other potential improper payments in other countries in which we operate or have operated, including in Malaysia, China, and India. The investigation is ongoing, and we are cooperating with the DOJ in this investigation. If we are determined to have violated the FCPA or similar laws, we may be subject to criminal sanctions and other liabilities, which would adversely affect our business, financial condition, and operating results.

The S-1 form is an SEC filing used by companies planning on going public to register their securities with the SEC.

According to The Wall Street Journal, Uber’s planned IPO will raise around $10 billion at a valuation of around $100 billion.

Uber said in the S-1 that it currently has over 22,000 employees worldwide and operates in over 63 countries.

The company said in Thursday’s disclsoure that it is cooperating with the DOJ.

The FCPA Blog | April 11, 2019
http://www.fcpablog.com/blog/2019/4/11/uber-discloses-fcpa-investigation.html