Siemens Says Probe Found Outright Corruption

Law360, New York (April 29, 2008, 12:00 AM EDT) -- German electronics conglomerate Siemens AG said Tuesday that Debevoise & Plimpton LLP, which was hired to investigate allegations of corruption, has found that the company is violating numerous compliance rules.

Siemens said Tuesday that Debevoise & Plimpton LLP told the company that the violations in question reflect not only outright incidents of corruption, but, in many cases, violations of regulations pertaining to internal controls and the accuracy of documentation.

The firm, which looked at relevant business transactions between 1999 and 2006, reported to Siemens' supervisory board...
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