HP Leaders Once Again Caught in Corruption Scandal

Hewlett-Packard seems destine to continue to have extremely bad behavior by those chosen to lead the company. At some point they need to appoint a board with the ethics and moral compass to take the proper actions and the competence to take effective action.

Hewlett-Packard Admits to International Bribery and Money Laundering Schemes

Hewlett-Packard has admitted to creating and using slush funds for bribes, money laundering, and clandestine “bag of cash” handoffs in order to profiteer off of lucrative government contracts in Russia, Poland, and Mexico, according to court documents.

HP’s guilty plea carries with it a $108 million penalty — a combination of SEC penalties, as well as criminal fines and forfeitures paid out to the Department of Justice. Thus far no criminal charges have been brought against American HP executives. The multi-agency investigation, which was conducted by multi-national law enforcement partners, the FBI, IRS, and SEC, has revealed kleptocracies in the three foreign governments and corruption and dishonesty among HP corporate fat cats.

I have written before about the corruption on the HP board and other bad behavior. Such a shame for a company that once was ethical and produced value for society.

Related: Geo-obsolense from anti-global HP (in addition to planned [coded-in] obsolescence HP breaks customers products based on geography - HP Poor Service – Industry Standard? (2006) - $8,000 Per Gallon Ink from HP (2007) - Another Year of CEO’s Taking Hugely Excessive Pay (in 2008 HP CEO took 7.4% of corporate profits personally before being tossed due to ethical failings). - Bad Behavior at HP (2006)