INDIAN INVESTIGATION: Germany's Adidas Group said Wednesday that Indian police are investigating two former executives from its Reebok India unit for an alleged fraud that could cost the company tens of millions of dollars.
FORMER EXECUTIVES: Adidas spokesman Jan Runau said the executives under investigation are former managing director Shubhinder Singh Prem and former chief operating officer Vishnu Bhagat. They both left Reebok India in March.
THE ALLEGATIONS: A police report says the pair filled four warehouses with stolen merchandise, falsifying bills and siphoning off goods to fake companies and distributors, local media reported. Prem has denied the allegations and is suing Reebok, according to local media.