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$668,000 to be Paid by the Volvo CEO Samuelsson to settle MAN corruption probe

$668,000 to be Paid by the Volvo CEO Samuelsson to settle MAN corruption probe

Snapshot: Mr. Hakan Samuelsson, the CEO of the Volvo car corporation will resolve an investigation done by the Germans regarding the enticement accusations which were connected to him, during his time as CEO of MAN SE’s truck making firm.

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Mr. Hakan Samuelsson, the CEO of the Volvo car corporation will resolve an investigation done by the Germans regarding the enticement accusations which were connected to him, during his time as CEO of MAN SE’s truck making firm. He has agreed to pay approximately $668,000 to aid organizations. Now 62 year old Samuelsson stepped down as MAN SE’s CEO in the month of November 2009. He was with the company for 9 years before serving as the CEO for more than 4 years. During his reign the brand recorded never-before profits in the history of the company. MAN SE is Europe’s 3rd largest truck manufacturing company. In the year 2009 the company paid 150 million Euros to resolve an investigation that was being conducted on the business for possible sweeteners paid by its turbo and truck units.               

 The case was opened in September of last year in Munich, Germany, after the ex-head of MAN SE’s audit sector confirmed in a correlated trail that, he had notified Samuelsson in a meeting held in 2006 about potential sleaze practices which were linked to the commerce pacts in Slovenia. Regarding these allegations Mr. Samuelsson stated over the phone that, he would have no problems to go through the assessment as he is not guilty and this will be a chance to prove his innocence. But he said that going all the way through with this will not be attuned, since now he is the CEO of Volvo. He said that he wanted to leave Germany with sufficiently optimistic impressions, and this is also a primary reason on why he doesn’t want to go ahead with the trial.  

A spokesperson for the prosecutors Mr. Thomas Steinkraus-Koch quoted that the Mr. Samuelsson has to give the full agreed amount of $668,000 to charitable trusts only then will the settlement be final.  

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