Charges Filed In Sponsorship Bribery Case
Two employees of Volkswagen and three former employees and consultants of a subsidiary of Deutsche Telekom have been charged with bribery stemming from a sponsorship deal between Deutsche Telekom and a Volkswagen-owned soccer club, VfL Wolfburg.
Fox Business writes:
In a statement, the prosecutors said the three staff working for a Deutsche Telekom unit apparently offered to extend a sponsorship deal for German football club VfL Wolfsburg in the first half of 2010. The 4-year contract would have been worth EUR16 million.
Prosecutors said the car makers' employees apparently demanded that the contract be extended and indicated the telecommunications firm could get orders worth EUR345 million in return. The deal, however, wasn't signed, the prosecutors said.
A Volkswagen spokesman said the automaker saw no problem with VW suppliers signing sponsorship contracts with the team, but added that the company welcomed the investigation.
Read More From Fox Business >>
#newstag
