CORRUPTION:  Another Lead in Siemens Bribery Probe?
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NEW YORK, Aug 30 (IPS) - U.S. officials from the Securities and Exchange  Commission, the Justice Department and the Federal Bureau of  Investigation met with prosecutors in Munich this week regarding  the 1.3-billion-dollar bribe fund run by Siemens, the German  multinational technology company.
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A top manager at Siemens has turned himself in to police and has made detailed statements with on an unfolding bribery scandal at the German engineering giant, prosecutors said.
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"The corporate executive committee will be scrutinizing the organization of the groups, the regional companies and the tasks of the corporate units in detail"  FRANKFURT, Germany: The new chief executive of scandal-plagued Siemens AG said Thursday the company would restore the confidence of investors and the financial markets, move forward with its efficiency program ... via International Herald Tribune
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A British firm is accused of paying bribes to senior Lesotho officials linked to a huge water and electricity project.
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Business & money: Investors say firm is now byword for corruption despite breakthrough after whistleblower amnesty
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Scandal-hit German engineering giant Siemens is seeking one million euros (1.48 million dollars) from employees implicated in a bribery scandal, a press report said Monday, quoting a company spokesman.
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The work may have been subcontracted to another firm.
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Wolfgang Schaupensteiner, the city's chief public prosecutor, told a news conference that he had uncovered evidence of bribery associated with 30 properties worth 3bn- 4bn, mainly office buildings and shopping ...
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Siemens, the German engineering company, banned its sales managers from using consultants for winning new orders after an investigation into whether money was embezzled through such agreements to bribe customers. âWe decided to introduce a general ban on the use of consultant agreements in our sales organization,â a spokeswoman, Monika Bruecklmeier, said. Exceptions can be granted only through the companyâs head of compliance, she said. An investigation of such payments has spread to at least six countries and forced the company to review 420 million euros ($544 million) in payments, and has put pressure on Siemens to explain how the suspected system of bribes went unchecked by top management.
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(InfoWorld) - The U.S. Securities and Exchange Commission (SEC) warned Lucent Technologies to expect an "enforcement action" over violations of the Foreign Corrupt Practices Act (FCPA) by executives at its Chinese operations. In April 2004, Lucent fired the president, chief operating officer, a marketing executive and a finance manager at its Chinese operations following a company investigation into the use of bribery by Lucent executives to secure contracts. The firing of the four executives was the result of FCPA violations uncovered by Lucent, and was reported to the SEC and the U.S. Department of Justice. On Tuesday, Lucent reported in an SEC filing that it had received a Wells notice from the SEC related to violations of the FCPA by Lucent China. A Wells notice is used to inform a company that SEC staff has made a preliminary recommendation to take action against it. The FCPA violations uncovered by Lucent in 2004 did not have a material impact on the company's business. However, Lucent is not able to determine whether the ongoing investigation into those violations will have an impact on the company's operations in China or elsewhere, the filing said.
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The Securities and Exchange Commission is investigating allegations that German automaker DaimlerChrysler AG maintained at least 40 secret bank accounts to bribe foreign government officials
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Siemens AG  has extended  its amnesty offer to employees in connection with a probe into  a corruption scandal until the end of February, the company  said on Thursday.
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TRW Automotive Holdings  is  thinking about making a bid for the automotive engineering unit  of Germany's Siemens, the Financial Times reported on Tuesday,  citing three people involved in the bidding process.
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The US Department of Justice has launched its own investigation into the allegations of widespread bribery and embezzlement at Siemens, already being probed by the German authorities.
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Kaiserslautern's  win over SC Freiburg last November is placed under suspicion in Germany's match-fixing scandal.
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A corruption affair that has shaken German industrial conglomerate Siemens AG  has spread to the United States with investigations by the U.S. Department of Justice and Securities and Exchange Commission.
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Siemens&#39; supervisory board plans to dismiss two of its own members as part of a reshuffle following an internal probe into corruption allegations, a report said Friday.