WASHINGTON — A Venezuelan branch of a Spanish telecommunications company has agreed to pay $85 million to settle an investigation by U.S. authorities concerning allegations of bribery involving local officials.

The probe revealed that the company was involved in a complex scheme aimed at influencing government officials in Venezuela to secure contracts and business advantages.

As part of the settlement, the company acknowledges the findings of the investigation and the role of its employees in these tactics, which undermined fair business practices and compliance with U.S. laws.

This case highlights ongoing concerns regarding corruption and unethical practices in international business dealings, especially in regions where governance and regulatory oversight are compromised.

The resolution of this investigation is part of a broader effort by U.S. authorities to deter corruption and promote corporate accountability globally.

By reaching this settlement, the company aims to move past these legal challenges and restore its reputation in the business world while demonstrating compliance with international regulations moving forward.

The implications of this case may resonate across the telecommunications industry, triggering a wave of introspection among other companies regarding their own practices in Latin America and beyond.