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HP's Moscow Offices Raided In Bribery Probe

Posted by Soulskill on from the hey-those-printer-cartridges-are-expensive dept.

FrankPoole writes "Hewlett-Packard's Moscow offices were raided Wednesday as part of a bribery investigation by Russian and German authorities. The news was first reported by The Wall Street Journal [currently paywalled; Reuters also covered it], which wrote that HP is suspected of allegedly paying out nearly $11 million in bribes to secure a major Russian government contract several years ago via a German subsidiary. Ironically, the contract was with the Prosecutor General's office of the Russian Federation, which will now play a role in investigating HP. While HP knew of the investigation as far back as December, the company did not disclose the information in any SEC filings. Instead, in its most recent quarterly report, HP states that in foreign nations 'it is common to engage in business practices that are prohibited by laws and regulations.'"

2 of 106 comments (clear)

  1. There's just so much about this... by Quantos · · Score: 0, Redundant

    That's funny and wrong I don't know where to begin...

    --
    Some people are only alive because it's against the law for me to hunt them down and kill them.
  2. Re:first bribe! by sopssa · · Score: 0, Redundant

    Best part of the summary:

    HP states that in foreign nations 'it is common to engage in business practices that are prohibited by laws and regulations.'

    I guess many US companies think the same way, based on their acting.. It's common, or is it the best way to make money?