According to the DoJ’s letter agreement, the illicit payments were made to secure customer referrals to LGI’s insurance products. The scheme generated approximately US$9.2mn in revenue and US$4.7mn in profits for the insurer. Employees allegedly disguised the bribes as marketing expenses and used third-party intermediaries to route the payments.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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