Bribery of millions of euros from SMITH & NEPHEW PLC to Greek government, public hospital administrators and doctors in Greece.

From 1997 to June 2008, two of S&N pIc’s subsidiaries engaged in a scheme with a distributor who made illicit payments to public doctors employed by government. hospitals or agencies in Greece. Smith & Nephew Inc. (“S&N Inc.”), a Delaware corporation that is headquartered in Memphis, TN, is a wholly-owned subsidiary of S&N pIc.  S&N Inc. sold its orthopedic products to a distributor in Greece. S&N Inc. and S&N GmbH sold orthopedic products in Greece since the 1970s through the Greek Distributor.

On paper, it appeared as if S&N Inc. and S&N GmbH were paying Company A and Company B for marketing services, but no true services were actually performed. Company A and Company B were essentially receiving the portion of the sales to the Greek Distributor entities that represented the difference between the list price and the discount price normally paid by distributors, usually between 25 and 40 percent of sales. This had the effect of creating off-shore funds for the Greek Distributor entities that were not subject to Greek taxes and that would be used to pay bribes to public doctors to purchase S&N Inc. and S&N GmbH products

Δωροδοκίες εκατομμυρίων ευρώ από την SMITH & NEPHEW PLC σε κυβερνητικούς...