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Philips’ German Office Raided in Employee Probe, Spiegel Says

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Feb. 21 (Bloomberg) -- Royal Philips Electronics NV’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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