Ex-Siemens Execs Fined $1.5M Over $1B Bribery Scheme

Law360, New York (February 4, 2014, 8:05 PM EST) -- A New York federal judge on Tuesday ordered two former Siemens AG executives to pay a combined $1.46 million for their roles in a $1 billion Argentine government contract bribery scheme, two of the largest Foreign Corrupt Practices Act penalties ever levied against individuals.

U.S. District Judge Shira A. Scheindlin entered a default judgment against Stephan Signer and Ulrich Bock and ordered each to to pay a $524,000 civil penalty and Block to pay an additional $413,957 for disgorgement. The two German nationals allegedly bribed Argentine...
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Case Information

Case Title

U.S. Securities and Exchange Commission v. Sharef et al

Case Number



New York Southern

Nature of Suit



Shira A. Scheindlin

Date Filed

December 12, 2011


Government Agencies

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