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corruption in the news
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| Two employees and a retired manager of the automaker Volkswagen (VW) AG have been taken into investigative custody on suspicions of corruption, writes the Deutsche Presse Agentur. Prosecutors suspect the French supplier Faurencia SA of paying bribes of up to US $1 million a year since 1998 to purchasing managers at VW, according to the Associated Press. |
Spokespeople for both companies told Reuters they were aware of the allegations and were cooperating with the investigation, but declined further comment.
Investigating whether VW managers and council members received illegal privileges, German newsmagazine Der Spiegel reports that a search of the employees’ apartments uncovered US $88,600 in cash hidden in a utility room. Deutsche Welle notes that the probe “follows an investigation last year into managers that had created fake companies to defraud authorities and enrich themselves while spending company money on personal travel, jewels, alcohol and sex”.
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