According to the U.S. Securities and Exchange Commission, Oracle Corp. will pay about USD 23 million to settle allegations that its subsidiaries in Turkey, the United Arab Emirates, and India used slush funds to bribe foreign officials in exchange for business. According to the SEC, employees of the Oracle units in Turkey and the UAE also used slush funds to pay for foreign officials to attend technology conferences in violation of Oracle policies. They also used the funds to send the officials' families to accompany them to conferences or take side trips to California, according to employees of the Turkey unit.

According to an SEC ruling, the settlement reached on Tuesday includes a civil penalty of USD 15 million as well as USD 7.9 million in disgorgement and interest. When Oracle decided to settle, it did neither accept nor deny any wrongdoing.

This is the second instance in which the SEC has accused Oracle of breaking a federal anti-bribery legislation, the Foreign Corrupt Practices Act.

In order to resolve SEC accusations stemming from Oracle India's formation of millions of dollars in unlicensed side funds between 2005 and 2007, Oracle agreed to pay a USD 2 million fine in 2012.

Requests for response from Oracle and its lawyers were not immediately fulfilled. The settlement struck on Tuesday includes a USD 15 million civil penalty, USD 7.9 million in disgorgement and interest, per an SEC judgement. Oracle did not admit or reject any wrongdoing when it made the decision to settle.

This is the second time that Oracle has been charged by the SEC with violating the Foreign Corrupt Practices Act, a federal anti-bribery statute.

Oracle India agreed to pay a USD 2 million punishment in 2012 to settle SEC complaints related to the establishment of millions of dollars in illegal side funds between 2005 and 2007.

Oracle and its lawyers did not immediately respond to requests for comment.