Siemens Unit Accused Of Bribing Chinese Officials

Law360, New York (January 15, 2013, 9:59 PM EST) -- A Chinese unit of Siemens AG that paid $1.6 billion to settle foreign bribery charges in 2008 has since paid kickbacks to officials in connection with bids to supply medical equipment to hospitals, a former employee alleged Tuesday.

The health care division of Siemens China Ltd. used intermediaries to funnel bribes to Chinese officials in charge of expensive medical equipment purchases, according to former Siemens compliance officer Meng-Lin Liu's complaint filed in New York federal court.

"Senior Siemens executives, compliance officers and legal officers knowingly allowed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.