04.12.2012, 16:08 5215

Thyssen ex-employees allegedly gave bribes to win projects in Kazakhstan

ThyssenKrupp called in the prosecutors after a tip-off from an employee led to the discovery of irregularities and potential fraud at the eastern European operations of subsidiary GfT Bautechnik.

Frankfurt. December 4. Kazakhstan Today - Prosecutors are probing former employees of German steel group ThyssenKrupp over alleged fraud connected to suspicious payments in Eastern Europe, the company said on Friday.

According to Interactive Investors, "ThyssenKrupp called in the prosecutors after a tip-off from an employee led to the discovery of irregularities and potential fraud at the eastern European operations of subsidiary GfT Bautechnik."

"That led to employees being dismissed, ThyssenKrupp said in a statement, without specifying how many people were involved," the online edition reports.

"The public prosecutor's office in Essen, where ThyssenKrupp is based, said in a statement it had just launched a probe against 14 people regarding alleged fraud and bribery," the article says.

"German paper Handelsblatt reported the bribes involved false invoices and unjustified commissions adding up to a double-digit million euro amount, with payments made to win projects in Kazakhstan, Uzbekistan, Azerbaijan and China," according to the article.

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