Crypto mining firm BIT Mining has agreed to pay a $10 million penalty to the U.S. Department of Justice (DOJ) over allegations of involvement in a bribery scheme. According to the SEC, BIT Mining, formerly known as 500.com, breached the Foreign Corrupt Practices Act (FCPA) between 2017 and 2019. The violations involved attempts to influence foreign officials, including members of Japan’s parliament, in an effort to build a resort casino in Japan.
The SEC’s findings revealed that the bribery scheme included illegal payments totaling approximately $2.5 million, delivered through cash bribes, entertainment, and luxurious trips. The company has agreed to cease and desist from further violations and to pay the aforementioned civil penalty. A former senior executive of the company has been indicted on multiple charges.