A unit of Panasonic Corp. has agreed to pay about $280 million (¥30.5 billion) in a deal with the U.S. government to resolve criminal and civil charges that the company falsified its financial records to conceal payments to sales agents in China and other parts of Asia.
The criminal charges were filed against Panasonic Avionics Corp., a subsidiary that designs in-flight entertainment systems, by the U.S. Justice Department in the U.S. District Court for the District of Columbia.
The Justice Department agreed to hold off on prosecuting the company, according to court records viewed Monday.