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HP bribery scandal heats up again

Original post made by HPQ, College Terrace, on Aug 12, 2010

The German government has been investigating HP for the last couple of years about an alleged multi-million dollar bribery scheme. The bribery allegedly happened in 2004-2006, which would be before Mark Hurd's reign, but a story in today's Wall Street Journal says the Germans are accusing him of dragging his feet in producing accounting records that they requested. Does Mark have something to hide? Is this the real reason that HP's board of directors fired him? Is the previous CEO going to get dragged into this, too, since she was in charge when the crimes occurred?

The dollar amount of the bribery is in the same ballpark as Mark's severance package, and a lot more than the settlement that his "friend" received.

Story in the Wall Street Journal: Web Link


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