UPDATED: Freight audit and pay firms defrauded Philips of millions

Dutch Electronics giant Philips has been defrauded of an estimated €20 million by freight audit and pay companies, according to a report in the Het Financieele Dagblad (HD) newspaper on 19 February. The fraud, which came to light during bankruptcy hearings, took place in Germany and US and were perpetrated by firms that were supposed to audit and control the payment of freight charges worth billions of euros. However, some of ... [+]

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