SEC said to be probing Siemens, Philips and GE for bribery
The three firms allegedly used local middlemen to negotiate bribes with Chinese government and hospital officials to sell medical equipment, two US sources say
Sao Paulo — The US Securities and Exchange Commission (SEC) is investigating Siemens, Philips and General Electric (GE) for allegedly using local middlemen to negotiate bribes with Chinese government and hospital officials to sell medical equipment, two US sources with knowledge of the matter said.
The investigations into the companies' business in China, along with an existing SEC probe into their sales in Brazil, are part of a new effort by US regulators to crack down on alleged corruption in sales of costly medical equipment worldwide, said the sources, who spoke on condition of anonymity because they were not authorised to discuss the investigation publicly...
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