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H-P Executives Face Bribery Probes

Published on April 15, 2010
by David Crawford

German and Russian authorities are investigating whether Hewlett-Packard Co. (HPQ) executives paid millions of dollars in bribes to win a contract in Russia, according to people familiar with the matter.

German prosecutors are looking into the possibility that H-P executives paid about €8 million ($10.9 million) in bribes to win a €35 million contract under which the U.S. company sold computer gear, through a German subsidiary, to the office of the prosecutor general of the Russian Federation. The office handles criminal prosecutions in Russia, including many corruption cases.

Russian investigators raided H-P’s Moscow offices Wednesday in connection with the probe, the people familiar with the matter said. The search was requested by German authorities, according to a statement posted on the Russian prosecutor’s Web site.

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