Panamanian prosecutors are pressing on with an investigation into a long series of bribes paid to local government officials in exchange for tendering contracts to German software giant SAP. The case was renewed after the FBI reported a confession offered by one of SAP’s high executives.
American businessman Vicente Eduardo García, who was in charge of various SAP global and strategic accounts, admitted to having bribed three high-ranking government officials in 2009, “with the aim of securing technological contracts for SAP”. García has said that 4 contracts were obtained through bribes between 2009 and 2011.
In total, the SAP executive is thought to have received 40 payments from the government, between 2009 and 2015, totalling over $15 million dollars. In Garcia’s statements, he refers to these contracts as a “gateway” for a slew of further agreements, which he estimated would eventually earn him up to $100 million.
SAP has issued a statement in which it denies any knowledge of bribery, claiming García had managed to evade internal protocols in place to prevent such acts of bribery.
Full Story: Mercado.com
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