German carmaker Daimler has reportedly agreed to pay $185m (£124m) in fines to settle a corruption investigation in the US.
US prosecutors have accused Daimler, the maker of Mercedes-Benz and Smart cars, and its subsidiaries of paying tens of millions of dollars in bribes to secure government contracts around the world.
It was reported today that the company’s German and Russian subsidiaries will plead guilty to criminal charges filed by the US department of justice and the securities and exchange commission. The parent Daimler and the Chinese division will enter into agreements to suspend prosecution for two years, as long as they comply with certain conditions outlined by the authorities.
Full story: Daimler ‘agrees $185m fine’ to settle US corruption investigation | Business | The Guardian