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