Economic investigations
Prosecutors enter into a deal with ABB in corruption proceedings
Status: 17.02.2024 | Reading time: 2 minutes
A control unit from the Swiss machine and plant manufacturer ABB
What: Bloomberg
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The proceedings against the German ABB are being discontinued against the confiscation of profits through suspected bribery. A fine will not be imposed. Documents available to WELT AM SONNTAG show that ABB may not have disclosed all information to the authorities.
The proceedings against the German subsidiary of the Swiss industrial group ABB for breaches of supervisory duties in connection with an alleged bribery case in South Africa are to be discontinued. According to information from WELT AM SONNTAG, the Mannheim public prosecutor’s office has submitted a corresponding application to the Mannheim regional court.
A fine should not be imposed, but the public prosecutor’s office is requesting that the profit of 9,383,025 euros resulting from the alleged bribery at the German subsidiary be confiscated. According to the application, ABB has already agreed to the confiscation.
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“With regard to ABB AG, an application was submitted to the Mannheim Regional Court – Economic Criminal Division for the confiscation of the value of the proceeds of the crime,” the Mannheim public prosecutor’s office confirmed to WELT AM SONNTAG. “The amount you mentioned is correct.” A decision is still pending.
Former German ABB employees are said to have bribed representatives of the state energy company Eskom in South Africa in order to receive a partial contract for the construction of the Kusile coal-fired power plant. ABB reported and admitted the corruption allegations itself.
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As part of a settlement with US authorities, ABB agreed to pay $315 million in December 2022 over the corruption case. However, confidential documents available to WELT AM SONNTAG suggest that, contrary to its assurances of cooperation, ABB may not have disclosed all information to the authorities.
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The Mannheim public prosecutor’s office confirms that an initial investigation against one of the accused ex-employees of ABB in Germany has now been discontinued against payment of a fine.
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