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Last Updated: Tuesday, 17 January 2006, 09:11 GMT
Daimler 'acts over Iraq bribes'
An oil pipeline in Iraq
Daimler is one of 2,000 firms alleged to have paid Iraqi bribes
DaimlerChrysler has suspended at least six managers over bribery allegations linked to the UN oil-for-food programme in Iraq, the Financial Times says.

Quoting "people close to the carmaker", the paper said between six and nine senior managers had been suspended after an internal investigation.

A report published last year listed the carmaker among more than 2,000 firms said to have paid Iraqi kickbacks.

The allegations against DaimlerChrysler involve an armoured truck contract.

illicit payments

The company refused to comment on whether any managers had been suspended.

Paul Volcker
Paul Volcker chaired the UN oil for food programme inquiry

It said it was still investigating the claims and passing information about "certain accounts, transactions and payments... involving government entities" to both the US Securities and Exchange Commission and the Department of Justice.

In October 2005, a UN report published by former US Federal Reserve chairman Paul Volcker found that Saddam Hussein's regime received $1.8bn (1bn) in illicit payments from firms including Siemens, Volvo and the Weir Group.

His report examined the $60bn (32bn) UN oil-for-food programme, which was set up to ease the effect of sanctions imposed on Iraq after its invasion of Kuwait.

The report said that the firms it cited would not necessarily have known about any bribes or surcharges.



FROM OTHER NEWS SITES:
The Boston Channel Probe: Thousands Took Part In Oil-For-Food Corruption - 37 mins ago
Miami HeraldScathing oil-for-food report draws denials - 4 hrs ago
Fresno BeeVolcker: U.N. scandal exposes corruption - 6 hrs ago
ABCNEWS.com Scathing Oil-For-Food Report Draws Denials - 7 hrs ago
Xinhua News Agency Over 2,000 firms bribed Saddam govt in Oil-for-Food program - 7 hrs ago
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