Report: Schenker Belgium accounting fraud

Deutsche Bahn has uncovered an accounting fraud stretching back a number of years at its Schenker Belgium subsidiary, Reuters reports.

There were false accounts and we are talking about several tens of millions of euros, a spokeswoman for Deutsche Bahn was quoted Friday.

The report gave estimates putting the amount involved in the fraud at 40 million to 50 million euros ($59-74 million).

Deutsche Bahn said the incident would not affect the books at DB Mobility Logistics, which is set for a partial privatization in the coming months. 

Source: American Shipper