Daimler Agrees to Pay $185 Million to Settle Bribery Charges
By Amanda Harding, New York Times, on March 24, 2010, 4:17 pm


On Tuesday, German automobile-maker Daimler, agreed to pay approximately $185 million to settle bribery charges by the US Department of Justice (DOJ) and the Securities Exchange Commission (SEC). Two of Daimler’s subsidiaries, located in Russia and Germany, are also expected to plead guilty to bribing foreign officials, according to The New York Times.

The Times further reports that Daimler itself is expected to avoid indictment. On Tuesday, the DOJ released criminal complaints against Daimler and three subsidiaries that accused Daimler of bribing foreign officials in at least 22 countries between 1998 and 2008. The court documents reportedly allege that Daimler “made hundreds of improper payments worth tens of millions of dollars to foreign officials,” which helped it make at least $50 million in extra pretax profits.

A hearing is scheduled for April 1 in the U.S. District Court in Washington, D.C.

Read The New York Times article


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