Egypt to investigate Daimler bribery case


Egyptian authorities are investigating charges made in a U.S. court that German car and truck maker Daimler AG used bribes to help it win business in Egypt, the country’s cabinet said in a statement.

A U.S. court charged the carmaker in March with violating U.S. bribery laws by showering foreign officials with millions of dollars and gifts of luxury cars to win business deals.

U.S. prosecutors said bribes were paid for deals in several countries, including Egypt, between 1998 and 2008.

Daimler agreed to pay $185 million to settle charges by the Justice Department and the Securities and Exchange Commission.

Its German and Russian units agreed to plead guilty to two counts of violating U.S. anti-bribery laws as part of the settlement that was approved by a U.S. judge. .

“Prime Minister Ahmed Nazif has decided to transfer the available information to Public Prosecutor Abdel Meguid Mahmoud on the payment of bribes by carmaker Daimler Mercedes Benz to employees in several countries, including Egypt,” a cabinet statement said.

It would be up to the prosecutor to take any appropriate steps, the statement by cabinet spokesman Magdy Rady said.

SOURCED FROM REUTERS

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