STUTTGART (AFX) – DaimlerChrysler AG is cooperating with the US Securities and Exchange Commission in its investigation into the company’s participation in the United Nations’ sponsored ‘Oil for Food’ programme, a company spokesman said.
The spokesman was commenting on a prerelease article in Stern magazine’s weekly Wednesday edition, which said the SEC is investigating whether DaimlerChrysler bribed officials in former Iraqi president Sadam Hussein’s government in order to facilitate swift delivery of products exported to that country under the Oil for Food programme.