Law360, New York (May 14, 2013, 12:50 PM EDT) -- On April 15, 2013, the U.S. District Court for the Southern District of New York entered a final judgment against Uriel Sharef, former officer and board member of Siemens AG as part of the U.S. Securities and Exchange Commission's settlement of civil Foreign Corrupt Practices Act charges against Sharef. The charges were based on Sharef's alleged role in a purported $100 million bribery scheme for Siemens to obtain a $1 billion contract from Argentina to produce national identity cards (the "DNI contract"), to have the DNI contract reauthorized by a new Argentinian administration, and to suppress evidence of the alleged corruption in an arbitration proceeding instituted by Siemens to recover on the ultimately canceled DNI contract. In December 2008, Siemens settled U.S. Department of Justice and SEC charges against the company related to the alleged Argentinian bribery, as well as other alleged activity....
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