Siemens Bribery Investigation Ends With a Fine

Standard

The investigation into bribery allegations at Siemens AG ends with a fine and a charge for illegal profits. The company is paying the equivalent of $284 million in a case that prosecutors have referred to as Europe’s largest bribery investigation ever.

This part of the investigation is related to the company’s telecommunications-equipment unit. A former manager in this unit, Reinhard Siekaczek was indicted last week in connection with the bribery investigation, and has been accused of embezzling €24 million. Continue reading