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HP's Moscow Offices Raided In Bribery Probe
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.'"
SEC sues Goldman Sachs.
Compare and contrast.
Set your phasers on "funky"!
California is already getting what they deserve, for so many stupid policies. But they shouldn't worry, Bernanke and company will bailout cali, i mean, they help bailout grease, how could they turn down cali? SO i guess, they're not getting what they deserve, oh well.