Further to the report in the November edition of the Corruption Digest, Tognum AG executive board member, Mr Peter Kneipp has resigned in the wake of a probe into bribery allegations. Mr Kneipp’s departure comes after the supervisory board reviewed the preliminary investigation.
Prosecutors are examining EUR26.7 million worth of provisions allegedly paid by Tognum MTU Asia division to sales agents in South Korea between 2000 and 2011. They are also interested in EUR160,000 worth of alleged payments made to South Korean army staff between 2000 and 2007 which included unofficial trips to Thailand, services and golf games.
Tognum has begun an “immediate, comprehensive and rigorous independent review” of its compliance systems and their effectiveness. The company has also pledged that it will fully cooperate with the investigating authorities.