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Adidas Launches Probe Into Bribery Allegations in China Involving Millions of Euros: FT Reports
Jun 16, 2024, 07:55 AM
Adidas has launched an investigation into allegations of large-scale bribery in China following a whistleblower complaint received on June 7. The complaint accuses senior staff of embezzling millions of euros, receiving kickbacks from external providers, and engaging in nepotism and bullying. One senior manager is specifically accused of receiving millions in cash from suppliers and physical items such as real estate. The investigation is reportedly a joint effort across Asia, Europe, and the UK, according to the Financial Times, which first reported the story.
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