Ex-Siemens Managers Convicted Of Bribing Enel

Law360, New York (May 14, 2007, 12:00 AM EDT) -- A German judge on Monday convicted two former Siemens AG employees and ordered the embattled company to pay $51.3 million for allegedly bribing Italian oil firm Enel SpA with millions of dollars in kickbacks in exchange for contracts.

Andreas Kley, an ex-chief financial officer of Siemens’ Power Generation Group, was found guilty of bribery and breach of trust and sentenced to two years of probation. Horst Vigener, a former manager and consultant, was convicted for abetting bribery and sentenced to nine months of probation.

Siemens said...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.