Siemens Sued For $1.5B Over Alleged Mexican Oil Bribes

Law360, New York (December 13, 2012, 5:38 PM EST) -- Petroleos Mexicanos, Mexico’s state-owned oil company, hit Siemens AG with a $1.5 billion suit filed in New York federal court Wednesday, alleging the conglomerate bribed government officials to secure a lucrative refinery construction contract as part of a criminal scheme.

Pemex claims Siemens violated the Foreign Corrupt Practices Act and racketeering laws. The complaint stems from Siemens’ $1.6 billion settlement with U.S. regulators in 2008 to resolve civil and criminal allegations that it bribed public officials around the world, including in Mexico.

According to the suit,...
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