HP accused of Serbian kickback connection

The Securities and Exchange Commission (SEC)  and the Department of Justice (DoJ) is interested in how many and which countries got money from HP to buy its kit, it has emerged. Serbia is now the focus of a prolonged investigation.

HP said in a filing with the  SEC, that the SEC,  as well as the US Justice Department are investigating more possibly illegal stuff that seems to have happened in Serbia, via a German division of the outfit. HP was started up in a garage by the eponymous folk Packard and Hewlett, known for their honest stance to stuff.

The authorities are already investigating HP’s relationships with the former USSR, now known as Russia. As well as other stuff.

The SEC filing says that the German prosecutor’s office is helping the US authority to untangle certain transactions between HP Germany, Russia, and Serbia.

HP, said HP’s filing to the SEC, could mean fines of up to half a million bucks per violation and “remedies”, including disgorgement, which sound painful.

HP has decided to cooperate and revealed that “information related to two former HP executives seconded to Russia and to whether HP personnel in Russia, Germany, Austria, Serbia, the Netherlands or CIS were involved in kickbacks or other improper payments to channel partners, or state owned or private entities”.

The investigation continues.