01 Aug 2011

Ex-Siemens Manager Charged in Germany over Alleged Bribes in Argentina

German prosecutors announced on Tuesday that they have filed charges against a former Siemens manager and Board Member (between 2000 and 2007) over alleged bribes paid to local Argentine officials to produce identity cards.

Siemens subsidiaries concluded contracts in the 1990s to produce identity cards after bribing local officials; however, the contract was cancelled in 2001 and some officials argued that they should have still been paid at least $27 million anyway, with the ex-manager saying that the money should come from a slush fund.

While the money was paid out from the sluch fund over a several year period, this case is only one part of a larger network of scandals involving Siemens that have added up to over $1 billion in fines in the United States and Germany, with another Board Member, Thomas Ganswindt going on trial earlier this year.

For the original article from the Greenfield Reporter.com, please click here.

Please note that the Siemens logo came from their global website, located here.