Philips’ German Office Raided in Employee Probe, Spiegel Says
By Alex Webb -
2012-02-21T19:27:59Z
Royal Philips Electronics NV (PHIA)’s Hamburg, Germany office was raided by police today investigating an employee of the company accused of corruption, Spiegel reported.
A 56-year-old employee is alleged to have sent two public officials invitations to a conference in Dortmund in September, prompting 38 police officers to raid the company’s German headquarters, according to the magazine.
Steve Klink, an Amsterdam-based spokesman for Philips, confirmed that the raid had taken place and said the company was cooperating with the police with their inquiries.
To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net
To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net
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