Bloomberg News

Former MAN Executives Samuelsson, Hornung Probed Over Corruption

September 05, 2012

Former MAN SE (MAN) Chief Executive Officer Hakan Samuelsson and former Chief Financial Officer Karlheinz Hornung are being investigated on corruption allegations by German prosecutors.

The probe was opened after the former head of MAN’s audit department testified in a related trial last month that both knew about “possible corrupt practices” regarding business deals in Slovenia, Thomas Steinkraus-Koch, spokesman for prosecutors in Munich, said in an e-mailed statement today.

“The prosecutors’ office reviewed the issue and found that the statute of limitation doesn’t yet bar prosecution of the potential criminal acts,” Steinkraus-Koch said. The office “opened a probe because the two former MAN managers are suspected of aiding in bribery in business relations.”

MAN, Europe’s third-largest truckmaker, agreed to pay 150 million euros ($189 million) in 2009 to resolve an inquiry into alleged bribes paid by its truck and turbo units. Investigators raided 59 company sites and seven private homes looking into allegations of possible illegal conduct from 2002 to 2009. The probe yielded several indictments against employees and managers.

“Of course I haven’t done anything,” Samuelsson said by telephone, denying any corruption allegations.

Hornung didn’t immediately return a call seeking comment. MAN spokesman Andreas Lampersbach declined to comment, saying this concerns individuals who haven’t worked for the Munich- based manufacturer for years. The men resigned in 2009.

Samuelsson is currently a member of the supervisory board of Siemens AG (SIE), which was embroiled in its own bribery case from 2006 until it settled with prosecutors in the U.S. and Germany at the end of 2008.

Siemens spokesman Alexander Becker declined to comment.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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