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Russians invade IBM

Big Blue nicked our pensions claim
Fri Dec 08 2006, 10:18
INSPECTOR KNACKEROV of the Moscow Yard raided the offices of IBM yesterday in connection with a $38 million theft from the Russian Pension Fund.

Interior Ministry spokesman Andrei Metzger told NTV that investigators were looking into possible abuse of office charges by pension fund officials who were involved with an improper bidding for computer equipment scam.

Other Russian tech companies involved were R-Style and Lanit.

The scam involved the fund officials buying gear from the companies at inflated prices and pocketing the difference, it's alleged.

However Pension fund head Gennady Batanov claimed the bidding process for equipment was competitive and included outsiders.

IBM said it was cooperating with government authorities, but declined further comment. µ

LA Times


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