Daimler AG Bribes Investigated by Egyptian Authorities

by Ron Grant

Some shady bribe issues have befallen Daimler AG in Egypt. Allegedly, the German car manufacturer bribed its way through some business transactions in the said country. According to an Egyptian cabinet member last Thursday, they will continue to examine the charges.

These charges weren’t made in Egypt. They actually originated from a U.S. Court.

Last March, the Daimler AG’s mother company, the Mercedes-Benz, was charged with similar violations regarding the U.S. Bribery Laws. According to these charges, several foreign officials were paid millions of dollars and luxury cars as “gifts” to make certain business deals flow smoother for the company. The US prosecutors claimed that Daimler had given bribes to several nations, including Egypt between 1998 and 2008.

Since the charges were made, Daimler AG agreed to come up with $185 million to settle everything with the Justice Department and the Securities and Exchange Commission. As part of the settlement, Russian and German units of the company will also plead guilty to two counts of US anti-bribery laws violation.

According to the same cabinet statement, the Egyptian Prime Minister Ahmen Nazif chose to pass on the information to Public Prosecutor Abdel Meguid Mahboud. He will now be in charge of processing the proofs that payments were indeed made by Daimler AG to certain employees in Egypt.

Office workers are made up of parts of the whole, working on the project.
Vector illustration of teamwork concept. Office workers are made up of parts of the whole, working on the project.
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