Chinese exec held for alleged bribes

SHANGHAI, Jan. 13 (UPI) -- A Chinese electronics company that makes Apple products said it is working with police to discover whether employees had accepted bribes from its suppliers.

The Hong Kong, Taiwan edition of Next magazine reported that a Foxconn executive in Shenzhen, a Chinese, was held by police on bribery charges, The New York Times reported Sunday.

The Foxconn executive was accused of asking for bribes from supply-chain partner and two executives overseeing Apple production had left their jobs within the last several months, Next magazine said.

"We can confirm that we are working with law enforcement officials whom we brought in to work with our own internal audit team as part of an investigation into allegations against a number of Foxconn employees related to illegal payments from supply chain partners," Foxconn said.

"We can say that the integrity of our employees is something we take very seriously and any employees found guilty of any illegal actions or violations of our company's code of conduct will be prosecuted to the fullest extent of the law. We are also carrying out a full review of our policies and practices to identify steps we can take to strengthen such measures to further mitigate against such actions," Foxconn said.

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Source: http://www.istockanalyst.com/article/viewarticle/articleid/6233494

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