Monday, December 20, 2010

HP under scanner for bribing

BANGALORE: The US authorities have been conducting a probe to find whether current and former employees of Hewlett-Packard Co paid kickbacks in certain transactions spanning several European countries, HP said in a filing.

The investigators have widened the probe by asking HP for information whether HP personnel in Russia, Germany, Austria, Serbia, the Netherlands or CIS were involved in kickbacks or other improper payments to channel partners, or state owned or private entities, the company said in a filing with the US Securities and Exchange Commission (SEC) on Wednesday.

HP said it was cooperating with the investigating agencies. HP had said in September that US authorities had asked for information on deals in Russia and the CIS.

The enforcement authorities had been probing the company's potential violations of the Foreign Corrupt Practices Act.

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