The Wall Street Journal news of the SEC investigation Thursday. According to its report, one current HP executive was arrested by German authorities in connection with the investigation last December. Two former executives were also arrested, but none of the three has been formally charged.

The alleged bribery occurred when former CEO Carly Fiorina was running the company. The HP board forced Fiorina out in 2005 over a series of issues related to the company's performance. Fiorina is currently a Republican candidate for the California U.S. Senate seat that has long been held by Democrat Barbara Boxer.

"This is an investigation of alleged conduct that occurred almost seven years ago, largely by employees no longer with HP. We are cooperating fully with the German and Russian authorities and will continue to conduct our own internal investigation," the HP spokeswoman said via e-mail on Wednesday.

FBI and SEC representatives did not return messages seeking comment for this story. A DOJ spokeswoman declined to comment on the matter.