Chris Gent still under fraud investigation

Media reports wrong, says German state prosecutor

  • alert
  • submit to reddit

3 Big data security analytics techniques

Chris Gent, the chief exec of Vodafone, is still being investigated for fraud the German authorities have said, despite media reports that it had all been called off.

A spokesman for state prosecutor of Dusseldorf said that no new information had come to light that would have caused him to drop the investigation in Gent and nine executives from German company Mannesmann.

The cas revolves around the sudden agreement by the Mannesmann board to accept a takeover bid from Vodafone, despite vociferous opposition to the proposal up to that point. The prosecutor hopes to ascertain whether multi-million pounds pay-outs to Mannesmann executives has the teensiest effect on their decision.

Not that £30 million cold cash is likely to sway the former CEO of Mannesmann Klaus Esser. And the others would only have had £2 million a piece - hardly enough to make them change their minds. Plus, Chris Gent only stood to gain £10 million from getting the deal through, so why would enable the execs to award themselves such pay-outs?

There is still date as to when the case will be closed. Also, we should point out that such investigations are common in large takeovers and there is no suggestion as yet that any charges will be brought. ®

Related Story

Vodafone CEO faces Mannesmann merger fraud probe

Combat fraud and increase customer satisfaction

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story


Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.