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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Sitemap Daimler ignored warnings on corruption: report AFP - Sunday, March 28 Send IM Story Print The logo of German auto giant Daimler. German car maker Daimler, probed in the United States for bribing foreign officials, ignored warnings that its books contained suspicious accounts, a news magazine report said. BERLIN (AFP) - – German car maker Daimler, probed in the United States for bribing foreign officials, ignored warnings that its books contained suspicious accounts, a news magazine report said. Spiegel magazine, in a report to be published Monday, said a former auditor informed the group in May 2000 of the existence of a system of so-called internal foreign accounts that could be used for "improper overseas payments." "Overview of these accounts was kept to a minimum, so cash payments could be made," said the magazine. The auditor reportedly suggested that his department monitor these accounts, identify legally suspect payments and discontinue them as soon as possible. But this was opposed by the sales department which was "unwilling to authorise more transparency of payments made through these accounts." Spiegel said the auditor, a year later, demanded that the accounts be closed but a top sales manager opposed this. In a deal presented to a US judge Wednesday Daimler escaped criminal charges in the longstanding US probe. Daimler admitted making hundreds of improper payments worth tens of millions of dollars to foreign government officials in at least 22 countries between 1998 and 2008, according to a deferred prosecution agreement filed in a Washington court. The kickbacks of cash and gifts of luxury armored cars, golf clubs and vacations helped secure government contracts worth millions of dollars in China, Russia, Thailand, Greece, Iraq and other countries. Prosecutors recommended that a judge impose a 93.6-million-dollar fine and accept the guilty plea of two Daimler subsidiaries. They noted that Daimler has mended its ways and cooperated fully with the investigation. Daimler will also pay a 91.4-million-dollar fine to settle an investigation by the US Securities and Exchange Commission. The fines are significantly smaller than the 800 million dollars German industrial giant Siemens paid in 2008 to settle a US investigation into its bribery of officials to secure contracts in Argentina, Bangladesh, Iraq and Venezuela. The bribery first came to light in 2004 when a former Daimler employee filed a whistleblower complaint saying he had been fired for voicing concern about secret accounts maintained to pay the bribes. Recommend Send IM Story Print News Search Top Stories World's iconic sites go dark to fight global warming BA cabin crew threaten more strikes Investors on alert as Portugal starts budget battle Daimler ignored warnings on corruption: report Greece to launch bond issue next week: report More Top Stories » Most Popular Most Viewed Most Recommended Cancer-stricken Dennis Hopper gets Hollywood star EU relieves Greece, but what next for euro? China VP due in Sweden as Volvo takeover nears Greece to launch bond issue next week: report BA cabin crew threaten more strikes More Most Viewed » 'Rare' fossil of new dinosaur species found in US 'Britain's Fritzl' raped daughters for over 25yrs Researchers back cancer-fighting properties of papaya Hollywood stars help prevent suicide after Twitter alert Prince Philip in strip club gaffe More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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