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Tag: Daimler

Automaker Daimler to Pay $185 Mil in Fines for Bribing Foreign Officials in at Least 22 Countries

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By Allan Lengel
ticklethewire.com

WASHINGTON — German carmaker Daimler has apparently been up to no good.

The New York Times, attributing information to “a person familiar with the case”, reports that Daimler will pay $185 million in fines and and two of its subsidiaries “will plead guilty to bribing foreign government officials, to settle a multiyear corruption investigation.”

The Justice Department, in documents released Tuesday, accused Daimler of bribing foreign officials “in at least 22 countries, including Russia and China, between 1998 and 2008,” the Times reported.

The New York Times reported that the government alleged that the company ”made hundreds of improper payments worth tens of millions of dollars to foreign officials” in return for assistance ”in securing contracts with government customers for the purchase of Daimler vehicles worth hundreds of millions of dollars.”

Consequently, the company pocketed at least $50 million in profits from the schemes, the Times reported.

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