Egyptian authorities are investigating Daimler bribes

Article by Christian A., on August 29, 2010

An investigation on alleged bribes made by Daimler AG for its business in Egypt is ongoing. In a statement last Thursday from a cabinet member, the Egyptian authorities continue to study these charges that were actually made in a US court.

Last March, a US court charged the Mercedes-Benz parent company for violations of the US bribery laws.

Reportedly, foreign officials were given millions of dollars and gifts of luxury cars for the carmaker to be able to participate in business deals.

According to US prosecutors, Daimler gave bribes in several countries, including Egypt, from 1998 to 2008. Daimler had since entered an agreement for it to come up with $185 million to settle charges by the Justice Department and the Securities and Exchange Commission.

As part of the settlement that was approved by a US judge, Daimler's German and Russian units will plead guilty to two counts of violating US anti-bribery laws.

A cabinet statement said that Prime Minister Ahmed Nazif has chosen to move the information to Public Prosecutor Abdel Meguid Mahmoud on the payment of bribes by Daimler Mercedes Benz to employees in several countries, including Egypt.

Topics: daimler

If you liked the article, share on:

Comments

Recommended

When Chevrolet came out with the 2018 Equinox last September, the facelifted model was offered in a diesel option for the first time, plus it weighed much less at 400...
by - July 23, 2017
If you are a huge fan of the hardcore GTS version, you probably know that the closest you could get to that model is the upgraded model of the M4...
by - July 23, 2017
Audi’s intention to bring out the Renn Sport Racing version of the Q5 was made clear when it unveiled the Audi SQ5 at the 2017 Detroit Motor Show early this...
by - July 22, 2017
Kia’s Sorento midsize sports utility vehicle is reaching its mid-cycle for the 2018 model year. Thus, its fans, enthusiasts and satisfied customers are expecting the Sorento to receive an update...
by - July 22, 2017
The Lotus Evora Sport 410 astonished the world after arriving as the more powerful and lighter edition of the already impressive Evora 400. Now, Lotus Cars is throwing in another...
by - July 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries