On the 24th September two Chinese local managers, including the local managing director, of the Swiss company Schindler were taken in for questioning by the Chinese Authorities. The investigation of the lift and escalator manufacturer takes place as part of an anti-corruption campaign being undertaken by the Chinese President Xi Jinping. To date several government officials and foreign firms have been investigated, including the pharmaceutical giant GSK.
The accusations relate to embezzlement and passive bribery (acceptance of bribes) and possibly bribery related to individuals. While the exact allegations are still unclear the accusations could relate to investigations in the Chinese sales department. ... →
GlaxoSmith Kline has been fined US$ 492 million in relation to their bribery scandal in China. The Beijing court also sentenced the GSK former country manager, Mark Reilly and others to prison for two to four years. This fine represents the largest penalty ever levied against a foreign company in China. The company could still face actions by the US and UK governments who have the power to punish companies corrupt business practices abroad. ... →
A tank deal contracted in 2006 has evolved into several court procedures in different EU countries on the grounds of bribery and the formation of a criminal organization. At the centre of the issue is the competition of two defense companies for a deal with the Slovenian army with a total trade volume of 278 million euro. ... →