Category Archives: bribery

Report: Bribery scandal leaves F1′s commercial future in jeopardy

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Filed under: Motorsports , Government/Legal , Earnings/Financials Bernie Ecclestone has controlled the commercial rights to Formula One for so long it seems like he always has and always will. But that’s not exactly the full story. While Ecclestone was the first to negotiate for control over the sport’s commercial aspects – namely its television broadcasting rights – there was a time when he had to relinquish control. And that time may come again soon

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Report: Bribery scandal leaves F1′s commercial future in jeopardy

Report: F1′s Ecclestone to face $50M bribery charges?

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Filed under: Motorsports , Europe , Government/Legal , Celebrities Formula One boss Bernie Ecclestone may find himself in legal trouble in Germany over allegations that he bribed a bank official $50 million. According to Yahoo Sports’ European arm, prosecutors are currently gathering evidence against the F1 honcho. The would-be charges center around the deal that led CVC Capital Partners to own F1. The courts say that Gerhard Gribkowsky, who worked with CVC Capital Partners, deposited $50 million into an Austrian account in order to avoid paying taxes on the funds.

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Report: F1′s Ecclestone to face $50M bribery charges?

VW tops in Corporate Trust Index only a few years after sex and bribery scandal?

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Filed under: Europe , Government/Legal , Volkswagen No one could ever accuse the auto industry of having a sturdy long-term memory. According to Automotive News , Volkswagen Group has just been named the most trustworthy company in the German DAX stock index. Sure, Max, that adorable talking Beetle seems like a stand-up guy and all, but it wasn’t so long ago that VW ran into some serious legal trouble over its business dealings.

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VW tops in Corporate Trust Index only a few years after sex and bribery scandal?

Report: Feds charge Daimler with paying millions of dollars in bribes

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Filed under: Government/Legal , Earnings/Financials Over the past five years, the U.S. Department of Justice along with the Securities and Exchange Commission have been investigating allegations that German automaker Daimler and three of its subsidiaries paid tens of millions of dollars in bribes through offshore bank accounts to secure contracts for its vehicles. According to court documentation released today, the bribes took place between 1998 and 2008 in at least 22 countries that included China, Russia, Egypt and Greece.

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Report: Feds charge Daimler with paying millions of dollars in bribes

Report: Daimler to pay $200M over bribery scandal

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Filed under: Government/Legal , Mercedes-Benz , Earnings/Financials For a number of years Daimler kept secret accounts used by executives specifically for the purpose of making illicit payments to foreign officials – a practice otherwise known as bribing. The “improper payments” were made primarily in Africa, Asia and Eastern Europe from banks in those regions. The bribery itself wasn’t Daimler’s problem – the fired whistleblower and the U.S. Department of Justice and Securities and Exchange Commission were.

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Report: Daimler to pay $200M over bribery scandal