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bribery

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    Report: F1's Ecclestone allegedly paid team owners $10M bribes to pass Concord Agreement
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    It's come out that Bernie Ecclestone, the chief executive of Formula One, paid three team principals - Eddie Jordan, Alain Prost and the late Tom Walkinshaw - $10 million each to sign the 1998 Concorde Agreement. Concorde being a commercial rights agreement that governs the split of monies ...

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    Report: Volvo CEO to shell out nearly $700k to settle MAN corruption investigation
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    Volvo CEO Hakan Samuelsson will be making a rather large charitable donation - 500,000 Euros ($668,000), according to Bloomberg. This is not, however, a move out of the goodness of his heart. It's part of an agreement the exec made after a court case in Germany. Samuelsson spent nine years at ...

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    Report: Department of Justice closing books on Daimler bribery investigation
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    An investigation by the US Department of Justice into charges that Daimler bribed officials in 22 countries with "tens of millions of dollars" to win contracts worth hundreds of millions of dollars from 1998 to 2008 has almost come to a close. Daimler paid $195 million in fines to the DoJ and the ...

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    Report: F1 boss Ecclestone staring down bribery charges
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    Controversial Formula One boss Bernie Ecclestone is facing bribery charges from German prosecutors. The long-rumored indictments stem from the 2006 sale of the racing series from Germany's Bayern LB bank to CVC Capital partners. The charge could result in Ecclestone facing jail time and losing ...

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    Report: Ecclestone may face 10-year sentence over F1 bribery charges
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    Formula One CEO Bernie Ecclestone should expect Germany to file charges against the executive over his alleged bribery of former banker Gerhard Gribkowsky. That's according to Autoweek, which notes Gribkowsky oversaw the sale of BayernLB's stake in the racing series back in 2006 to CVC Capital ...

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    Report: Bribery scandal leaves F1's commercial future in jeopardy
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    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 ...

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

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    Report: Daimler to pay $200M over bribery scandal
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    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 ...

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    Kia chief spared indictment in Korean bribery scandal
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    The South Korean government has decided not to pursue an indictment against Chung Eui Sun, president of Kia Motors. The move not to prosecute apparently stemmed from the fact that his father, Chung Mong Koo (Hyundai Motor chairman) was the one with final authority, and he is being indicted in the ...

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    Hyundai corruption scandal precipitates suicide
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    An ex-government official in the growing Hyundai scandal was found dead Sunday of an apparent suicide. Park Seok-an, under suspicion for bribery in the Korean automaker corruption case was found dead in a lake-he had been slated to appear in the prosecutor's office the same morning, having ...

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    Prosecutors looking to arrest Hyundai chief in bribery scandal
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    Prosecuting attorneys in South Korea have requested an arrest warrant for Chairman Chung Mong-Koo of the Hyundai Motor Group. The paperwork is being sought on charges that the executive embezzled $106 million via slush funds, using some of the ill-gotten gains to graft government officials, among ...

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    Hyundai apologizes one billion times for its bribery scandal
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    As part of an act of contrition for the bribery scandal rocking Hyundai Motor Group, the company is donating $1.05 billion dollars to charity. The word came Wednesday as Hyundai vice chairman Lee Jeon-kap issued a formal apology for the corporate malfeasance currently under investigation. The ...

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    Hyundai Automotive Group scandal heightens
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    Recent developments in the Hyundai Automotive Group's homeland bribery scandal are seeing the plot thicket. The prosecution announced Thursday that it has evidence supporting the accusation that company executives bribed politicians and government officials in 2001, as part of an effort to ...

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    Hyundai's Seoul headquarters stormed by corruption probe investigators
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    South Korean officials descended upon Hyundai's headquarters, carting off around 100 boxes of data from the companies southern Seoul offices. The move came as the latest development in a corruption probe surrounding a prominent business lobbyist. The investigation centers around the arrest of Kim ...

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    Bribery scandals brewing afresh at DaimlerChrysler
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    A whistleblower-spurred inquiry into 'improper payments' (read: bribes) has led DaimlerChrysler to let go or suspend several employees on three continents. The mole in question claims that he was fired after complaining to his bosses regarding a 'secret bank account' employed to bribe foreign ...

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    Officials in corruption probe raid Hyundai's Seoul HQ
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    South Korean officials descended upon Hyundai's headquarters, carting off around 100 boxes of data from the companies southern Seoul offices. The move came as the latest development in a corruption probe surrounding a prominent business lobbyist. The investigation centers around the arrest of Kim ...

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