September 5, 2005
Germany Also Investigating DaimlerChrysler
Looks like the U.S. is not the only country looking at what is happening at DaimlerChrysler.
Reported here and here were posts discussing possible bribes that might have a connection to the Mercedes division of DaimlerChrysler. The investigation was looking at possible violations of the Foreign Corrupt Practices Act.
According to the Wall Street Jrl here, Germany now has entered with their own investigation of DaimlerChrysler, this time for possible insider trading. Interestingly, the German approach was to search the offices of several top officials. Although searches are routinely conducted in the United States, in white collar cases it is more common to use subpoenas in the corporate sector. White collar investigations, however, have involved searches in everything from environmental, health care to investigations of attorneys.
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