Wipro Settles $4 Million Employee Fraud Matter With US Agency

Indian IT major Wipro on Friday announced that it has reached an agreement with US Securities and Exchange Commission (SEC) to resolve a six-year old investigation related to the embezzlement of funds worth $4 million by an employee. Under the terms of the settlement, the company will pay penalty of $5 million. This was disclosed by the Bengaluru-based IT major in a filing with the Bombay Stock Exchange. Wipro said in a statement t...