Ex-Siemens Board Member To Pay 2nd Highest FCPA Penalty

Law360, New York (April 19, 2013, 12:21 PM EDT) -- Former Siemens AG executive has been ordered to pay a $275,000 civil penalty — the second-highest penalty ever leveled against an individual under the Foreign Corrupt Practices Act, according to the U.S. Securities and Exchange Commission — to settle charges in a $1 billion Argentine government contract bribery scheme.

U.S. District Judge Shira A. Scheindlin entered a final judgment in New York on April 15 against Uriel Sharef, a former Siemens board member who allegedly bribed Argentine government officials as part of a decade-long scheme to...
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