Daimler, the German giant behind the Mercedes-Benz automotive and truck business, has pleaded guilty to corruption charges brought by the U.S. Justice Department and Securities and Exchange Commission and agreed to pay $185 million in penalties for its bribery practices.
In a 76-page filing in federal court, U.S. prosecutors said between 1988 and 2008, Daimler paid at least US$56 million in bribes to foreign officials in at least 22 countries that included China, Russia, Egypt, Greece and Nigeria.
The U.S. Securities and Exchange Commission (SEC) said in a statement that the carmaker "engaged in a repeated and systematic practice of paying bribes to foreign government officials to secure business in Asia, Africa, Eastern Europe and the Middle East."
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