Siemens' Global Bribery Scheme Revealed

Law360, New York (November 16, 2007, 12:00 AM EST) -- Trouble-ridden German electronics conglomerate Siemens AG reportedly paid a total of 77 bribes worth €12 million to cabinet ministers and other officials in Nigeria, Russia and Libya to win cushy contracts for telecommunications equipment.

The payments were revealed in a document, retrieved by the Wall Street Journal, which fills in the details of a Munich court ruling on Oct. 4 that has enmeshed the German giant in investigations across the world.

The documents showed that Reinhard Siekaczek, who oversaw sales at a branch of Siemens's telecom...
To view the full article, register now.