Daimler faces fine in US graft probe

[Omaha Steve]

FRANKFURT (Reuters) - DaimlerChrysler could face a $640 million fine as a result of a bribery probe by the U.S. justice department and the U.S. stock market regulator, German weekly Der Spiegel said on Saturday.

The Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) began their investigations in 2004 after a whistle-blower complaint filed by a former employee of the world's fifth-biggest carmaker.

The employee, who Daimler has said was sacked for falsifying financial information, alleged the company had kept secret bank accounts to bribe foreign government officials.

The carmaker said in March that an internal investigation, running parallel to the SEC and DOJ probe, found irregular payments had been made in Africa, Asia and eastern Europe.

Full story: http://money.excite.com/ht/nw/bus/20060520/hle_bus-l20214615.html

[ShockediSay]

1. At least two sets of books

always tells you something

[AnOhioan]

2. Oh please

These multi-million dollar fines are great for the media but they are rarely enforced.

I am so damn tired of corporate crimes...and even more tired of empty promises of huge fines.