Pfizer Finance Executive Blows the Whistle

A former Pfizer finance executive alleges that Pfizer is a company which hires detectives who pay bribes, use corporate spies, pretexting, and pays off competitor's employees to leak confidential information, and uses other potentially illegal means of obtaining information for the company. And the documents he has provided appear to support his allegations.

The executive is Mr. Ashok S. Idnani, a former Deputy Manager in Pfizer's finance department who spent 28 years working for the company.

Idnani was fired after he informed Pfizer CEO Jeff Kindler of numerous illegal acts and provided documents to Pfizer's Corporate Compliance and Corporate Audit departments in support of his allegations.

In January 2006, a two-member team, Ms. Indrani Franchini, Deputy Compliance Officer, and Ms. Sarah Alper, Compliance Audit Supervisor from Pfizer New York traveled to Mumbai, India, to meet with Idnani.

When they arrived in Mumbai they received written proof that Pfizer India had hired a team of detectives who operated by using bribes, corporate spies, pretexting, and even suggested paying off employees in other companies to leak confidential information which Pfizer desired.

Dinesh Lakhani was one of the persons who had his privacy violated by Pfizer. He was a Parke-Davis shareholder who opposed the Pfizer Warner-Lambert merger.

The Pfizer and Park-Davis merger in India had been approved by a single-judge bench on February 7, 2003. However, four shareholders - Dinesh Lakhani, Janak Mathuradas, Arvind Vyas and Hiren Vyas - appealed against that order and obtained an ad interim stay. The Bombay High Court admitted the appeal by these minority shareholders in May 2003. More here.

This very much angered Pfizer management, and they sent their goons to spy on Dinesh Lakhani and also Janak Mathuradas. Janak Mathurdas is known in India as an activist investor who frequently opposes management, including objecting against fat pay packages. More here.

In this article you'll be able to download and read Pfizer's surveillance reports on these two men and many others.

It is interesting to note that the surveillance reports directly implicate Mr. Kewal Handa, Pfizer India's Managing Director, in this nefarious activity

Hence, these surveillance reports demonstrate that senior Pfizer management was involved in this activity.

It is also clear that Pfizer Corporate Compliance and Corporate Audit appear to have no problem with such clandestine efforts.

After all, if they did, Mr. Handa wouldn't still be the Managing Director of Pfizer India.

Download the full surveillance reports here:

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