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5/18/2008
Siemens' von Pierer Will Face No Charges
4/20/2008
Siemens' von Pierer Fingered as Probe Goes (Even More) Global
Siemens Brass Bobs and Weaves as New Information on Bribery Culpability Emerges
Speigel Tells Us: Why Siemens Should Never Have Been Listed by Wall Street
Board Chair Resigns at Siemens
Siemens' von Pierer Will Face No Charges
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Siemens' von Pierer Fingered as Probe Goes (Even More) Global
For months we've been talking about the Siemens bribery probe's weed-like expansion. Every time one is tempted to think that it can't go further, it does. 270 individuals are currently being investigated by German authorities and Siemens has also apparently made plans to sue former company managers for damages - and the cases could come within weeks. '
Last week, for the first time a witness (former Siemens compliance guru, Albrecht Schaefer ) went on record tying former Siemens CEO, Heinrich von Pierer personally to the scandal. For his part, von Pierer continues to deny any and all charges. However, claims of innocence haven't stopped von Pierer from chatting with German prosecutors.
About the weather, I'm sure.
-- MDT
4/15/2008
Last week, for the first time a witness (former Siemens compliance guru, Albrecht Schaefer ) went on record tying former Siemens CEO, Heinrich von Pierer personally to the scandal. For his part, von Pierer continues to deny any and all charges. However, claims of innocence haven't stopped von Pierer from chatting with German prosecutors.
About the weather, I'm sure.
-- MDT
Labels: Albrecht Schaefer, bribery, Heinrich von Pierer, Siemens
Siemens Brass Bobs and Weaves as New Information on Bribery Culpability Emerges
As many suspected from the start, management knowledge of Siemens' bribery allegations now appears to date back much further than the firm had previously admitted - as far back as 2003. Not exactly news to anyone who has been reading this space for any length of time...
But now Siemen's former compliance officer, Albrecht Schaefer - who was cut loose back in August of 2007 - has it on the record in court that he informed chairman Heinrich von Pierer (who, for his part, is facing other indignations this week) and other top managers about the bribes.
In fact, he even wrote of the bribes as business strategy in an internal document in 2004. Read all about it at Deutsch Welle.
-- MDT
10/04/2007
But now Siemen's former compliance officer, Albrecht Schaefer - who was cut loose back in August of 2007 - has it on the record in court that he informed chairman Heinrich von Pierer (who, for his part, is facing other indignations this week) and other top managers about the bribes.
In fact, he even wrote of the bribes as business strategy in an internal document in 2004. Read all about it at Deutsch Welle.
-- MDT
Labels: Albrecht Schaefer, bribery, Heinrich von Pierer, Peter Loescher, Siemens
Speigel Tells Us: Why Siemens Should Never Have Been Listed by Wall Street
The summary...
-- MDT
4/20/2007
"Germany's scandal-plagued Siemens should have been barred from being listed on the US stock exchange in 2001. According to internal reports, the company's management at the time, under then-CEO Heinrich von Pierer, was guilty of serious negligence."The full article, from Spiegel.
-- MDT
Labels: bribery, Heinrich von Pierer, SEC, Siemens
Board Chair Resigns at Siemens
Heinrich von Pierer, supervisory board chairman of Siemens, is expected to resign in the next few days in response to mounting scandal at the troubled German conglomerate.
The FT has further details on von Pierer and his decision to resign.
-- MDT
The FT has further details on von Pierer and his decision to resign.
-- MDT
Labels: bribery, corporate scandal, Heinrich von Pierer, Siemens
