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Justice Dept. Ending Oversight of Daimler

DoJ says maker cleaned up after bribery case.

by on May.30, 2013

Daimler CEO Dieter Zetsche and other senior execs will soon have the Dept. of Justice off their backs.

The U.S. Department of Justice is moving to wind up the bribery case it filed against Daimler AG more than three years ago. The DOJ has filed a motion to dismiss the case in Federal Court after being satisfied that the German industrial giant has reformed its internal code of conduct and business practices.

The corporate cleanup, which included the dismissal of senior executives, the demotion of others and appointment of an official with the authority to enforce the new anti-corruption dictates, followed a landmark settlement with the Justice Department.

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As part of the settlement, Daimler AG entered into a “”deferred prosecution agreement” and agreed to the accept a single charge that  the company conspired to violate the books and records provisions of the U.S. Foreign Corrupt Practices Act, along with one count of actually violating those provisions.