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Maxwell Technologies S.A. is a Swiss subsidiary of a U.S. company which is developing, manufacturing and marketing energy storage and power delivery solutions for different kinds of areas. Alain Riedo, a Swiss citizen and the former general manager, was criminally charged by U.S. prosecutors with violating anti-bribary and falsifying company records. The Foreign Corrupt Practices Act strictly prohibits such behaviour. The indictment was filed in in the Southern District of California.
Riedo is accused of conspiring to bribe Chinese government officials in order to win contracts to sell electric storage devices. He is suspected of having paid $2 million in bribes to government officials from 2002 through 2009. Riedo now is facing nine counts, saying that he is not guilty. No charges were filed against the company itself.
The whole case: United States v. Alain Riedo, No. 13-cr-3789 JM (S.D. Cal. October 15, 2013).
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