Siemens Execs Found Guilty in Corruption Case
By Aruna Viswanatha |
April 20, 2010 5:13 pm
COMPANIES
On Tuesday, a German court fined and placed on probation two managers at electronics and engineering firm Siemens AG for their roles in a bribery scandal, according to Reuters.
The corruption probe has already cost the company around €2.5 billion, including settlements with authorities in the United States and Germany.
The two executives were put on probation for a year and a half and two years, respectively, and forced to pay €40,000 and €160,000 each.
The case centered around bribes for telecom contracts in Russia and Nigeria.
While Siemens pleaded guilty to Foreign Corrupt Practices Act violations in the U.S., no individual executives were charged under American law.
Read the full story here.
“No individual executives were charged under American law.” Is this because, oh, perhaps SECRETLY Mendelsohn(?) was somehow invested in Siemens? Regardless of his fining Siemens, there was no legitimate reason to allow Siemens to admit no guilt, in the U.S. case. Guilty of bribery/corruption, but NOT having to PUBLICALLY ADMIT their guilt? How stupid is THAT policy? Talk about Co-Dependency! Or is that Co-Bribery?
[...] practices abroad. German authorities have investigated car maker Daimler and engineering giant Siemens AG. Both Siemens AG and Daimler reached settlements with U.S. authorities earlier this year on [...]
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