Philips suspected of kickbacks in China

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Medical technology company Philips is being investigated by the American stock market watchdog Securities and Exchange Commission (SEC) for paying bribes in China. Reuters news agency reports based on insiders. Industry peers Siemens and General Electric (GE) are also under the magnifying glass.

The three companies would have hired local intermediaries. They had to arrange bribes for Chinese government officials and hospital staff. Philips, Siemens and GE deny having committed something. They also say they are not aware of the investigation.

Reuters reported last month that the three companies were being investigated together with Johnson & Johnson for bribery in Brazil. Even then the companies denied misconduct.


By: Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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