Ford (NYSE:F) Offices in Germany Raided Over Alleged Bribery Scheme

About 100 German police officers swooped into the offices of Ford Motor Co. (NYSE:F) in Germany after a probe revealed a possible bribery scheme involving suppliers and Ford Motors staff.

Christina Pohlen, the Cologne prosecutor, noted that their focus was on individuals and not the Ford company itself, however that is being delineated.

Allegations are employees from Ford were offered bribes from third-party contractors to secure deals for them.

The investigation began in September, and management of Ford Europe has been cooperating since it was launched.

A spokesman for Ford said the actions has resulted in a lost of several million euros, which they said they plan on seeking damages for from those found guilty of their actions.

Along with company offices in the Ford plant, an additional 30 sites were reportedly visited as well, including the residences of some of those under suspicion.

Ford said they're going to strengthen their control process in relationship to approval of contracts, and is looking into ways of improving them to prohibit something like this from happening again.