World Bank Probes Siemens Contracts

Law360, New York (July 2, 2007, 12:00 AM EDT) -- The World Bank has reportedly launched an investigation into international engineering firm Siemens AG to determine whether it paid the company inflated prices for work on a power plant in Pakistan in the 1990s, and for other contracts.

Siemens has been under investigation in Europe and the United States for allegedly using bribes to secure contracts. The government prosecutor presiding over the Siemens investigation in Germany told German weekly Der Spiegel that a World Bank official had asked him for information about the power plant contract....
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