German firm held orgy to reward salesmen
May 21st, 2011 - 12:26 pm ICT by IANSMunich, May 21 (IANS/AKI) A unit of German insurance giant Munich Re said it hosted an orgy with prostitutes for some of its salesmen during an “incentive trip” held in a Hungarian spa.
The firm controlled by the world’s richest investor Warren Buffet, Berkshire Hathaway, holds a 10 percent stake in Munich Re.
ERGO Insurance Group in a written statement posted on its website said the Budapest event was held June 2007.
“We confirm that several prostitutes attended one evening event during the multi-day trip to Budapest,” the statement said, adding that it was a violation of the company’s code of conduct.
Prostitution is legal in Hungary and Germany.
ERGO said the two men responsible for organising the trip had left the company before details of the scandal became public.
–IANS/AKI
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