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Business

Outside Investigators to Probe Scandal

German computer chip maker Infineon said Friday it was calling outside investigators to examine the company's internal system of checks and controls as a bribery and corruption scandal threatened to snowball at the semi-conductors giant. Infineon said in a statement that the aim of the probe was to "uncover any possible weakness in the company's internal controls that might have prevented the alleged events from being uncovered at an earlier stage." The announcement came in the wake of the resignation of board member Andreas von Zitzewitz amid allegations that he had pocketed hundreds of thousands of euros from a Swiss sports sponsoring firm in return for business favors.Public prosecutors are currently investigating those allegations. At the same time, Infineon declined to comment on a report in the daily Süddeutsche Zeitung which said the company was facing a fresh scandal over a multi-million-euro (dollar) contract to build its new headquarters.

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