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Dell charged $100 million over dodgy dealings

Dell said it is coughing up a "civil monetary penalty" of $100 million to the US Securities and Exchange Commission (SEC). The charge relates to a conspiracy it cooked up with Intel to keep AMD chips out of its computers, and to dodgy accounting.

Dell isn't admitting to any conspiracy, though. And nor is founder of the company and current CEO, Michael Dell, who is handing over $4 million as his part of the settlement.

Dell the company and Dell the individual are both handing over the cash in a deal which lets them off admitting any shenanigans. This, Dell said, is "consistent with standard SEC practice".

As well as conniving with Intel, the SEC's complaint also alleges that the company engaged in disclosure and accounting practices that violated federal securities laws and SEC rules during the period from 2001 to 2006.

These include violations of anti-fraud provisions.

Dell handed over the $100 million it had set aside for just such an outcome and said it would be a good boy in the future.

Michael Dell's settlement doesn't relate to any financial shenanigans but is a slap on the wrist for his failure to confess to cosing up with Intel and shafting AMD prior to Fiscal 2008.

Mr Dell was negligent, but had no fraudulent intent, according to the statement put out by the company. He also said he'd behave himself from now on.

Samuel Nunn, presiding director of the Dell Board, said: "Dell’s Board reaffirms its unanimous support for Michael Dell’s continued leadership, and the management team in its ongoing commitment to transparent accounting, integrity in financial reporting and strong corporate governance."

Mikey Dell said, he was "pleased to have resolved this matter".

The settlements with the company and Michael Dell are subject to approval by a US District Court.