German Prosecutors Accuse HP Employees of Bribery to Secure Russian Contract

rated by 0 users
This post has 1 Reply | 0 Followers

Top 10 Contributor
Posts 26,369
Points 1,192,085
Joined: Sep 2007
ForumsAdministrator
News Posted: Thu, Sep 20 2012 4:36 PM
One current and two former Hewlett-Packard employees have been named in a criminal bribery case brought on by German prosecutors. According to the indictment, a three-year investigation found that HP executives issued $10 million in kickbacks in order to secure a contract worth four and a half times as much with Russia's Prosecutor General Office.

Why would Germany get involved? The three HP executives allegedly helped create a fund designed to funnel money to Russia through a German subsidiary, passing through a number of shell companies and accounts along the way. Those named in the indictment include Hilmar Lorenz (forming HP marketing executive in Russia), Ken Willett (Germany-based American HP manager), and Paivi Tiippana (former manager of the company).

Hewlett-Packard

In a written statement, an HP spokesperson said that the current and former employees named in the indictment relates to alleged conduct that occurred almost 10 years go. HP, as a company, was only named as a side participant and is cooperating with authorities, the firm said.

Those named in the indictment could face up to four years in prison, if found guilty. HP, meanwhile, could be ordered to cough up any profits it earned from the deal.
  • | Post Points: 20
Top 10 Contributor
Posts 5,053
Points 60,715
Joined: May 2008
Location: U.S.
Moderator
3vi1 replied on Thu, Sep 20 2012 8:22 PM

I wouldn't be surprised. Bribery is an oddly commonplace requirement in some countries. The ethics training at our corporation kept going on an on about not participating in such practices... which I found extremely misdirected since I do technical work and have no purchasing dealings.

What part of "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn" don't you understand?

++++++++++++[>++++>+++++++++>+++>+<<<<-]>+++.>++++++++++.-------------.+++.>---.>--.

  • | Post Points: 5
Page 1 of 1 (2 items) | RSS