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Corruption? - USA - Daimler faces SEC probe over Iraq trucks
German corporations involved in Possibly corrupt deals
UK -This is Money/Evening Standard, by Allan Hall -10 August 2005: -- AMERICA's Securities Exchange Commission (SEC) financial watchdog is probing the sale of DaimlerChrysler Actros trucks in connection with the UN's oil for food scandal, it was claimed today... According to Stern magazine, in 2002 Iraq had ordered 150 of the vehicles, 50 of which were delivered via Moscow. The Daimler branch in Russia sold them to the Russian Engineering Company, which in turn sold them to the Iraqi state-controlled GAMCO... The SEC wants to know if DaimlerChrysler might have also paid a bribe to move up to the head of the queue... The investigation is not the only headache for the firm... The company has been beset with issues surrounding the quality and reliability of its Mercedes range... The growing list of German corporations involved in scandals - BMW, Infineon, Volkswagen, Commerzbank - lengthened after the SEC announced it is investigating DaimlerChrysler's involvement in possibly corrupt deals...
posted by Unknown @ 11:50 AM
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