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2/20/2009
Frontline Production on Corporate Bribery
1/27/2009
For Corporations, Can Honesty Be a Profitable Policy?
Siemens Signs off on Billions in Fines
Siemens Sends Notice of Coming Settlement
A Look At Siemens New Sherriff
Feldmayer Tesitifies in Siemens Bribery Trial
Global Anti-Bribery Regime Begins to Take Shape
More Grief for Siemens 9/01/2008
When Bribery Isn't Bribery
Siemens and the SEC Close to a Deal? 8/17/2008
News to Nobody: Siemens Internal Corruption Controls Found Lacking 8/10/2008
German Authorities Ready Siemens Trial On Illegal Trade Union Payments
A Great Line
Siemens Director Reinhard Siekaczek Avoids Jailtime
Former Siemens Top Brass Denies Wrongdoing, Post Schaefer Testimony
-- MDT
7/23/2008
Siemens Plans to Loose the Legal Hounds on Former Managers Implicated in Bribery Scandal
Former Anti-Corruption Chief Testifies in Siemens Bribery Trial, Results Ugly For Siemens Management
Prosecutors Finger Siemens Board Member in Union Bribes
Bribery Convictions for Two Former Siemens Managers
Transparency International Shames Countries Soft on Corporate Bribery Prosecution
Frontline Production on Corporate Bribery
Typical great work from PBS's Frontline program. The full report will broadcast in April, but you can check out clips online right now, right here.
-- MDT
-- MDT
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For Corporations, Can Honesty Be a Profitable Policy?
A discussion of Siemens, BAE, OFAC and how regulation can be good for business, brought to you by the chair of the OECD Working Group on Bribery, Mark Pieth and Radha Ivory, a Research Fellow at the Basel Institute on Governance. Courtesy of Forbes of all places.
-- MDT
12/15/2008
-- MDT
Labels: BAE, Mark Pieth, OFAC, Radha Ivory, Siemens
Siemens Signs off on Billions in Fines
Looking to close the book on the massive bribery investigation, Siemens settles for big bucks on lesser charges.
-- MDT
11/06/2008
-- MDT
Labels: bribery, settlement, Siemens
Siemens Sends Notice of Coming Settlement
They've set aside a$1.3 billion to help resolve the ongoing corruption probes in Europe and the U.S. While some had suggested that closing out the various investigations could prove much more costly, market analysts have referred to the probes as "essentially over" at this point. More on this at CFO.com, along with some additional detail fits into the bigger picture of the current state of European business ethics.
-- MDT
10/09/2008
-- MDT
Labels: settlement, Siemens
A Look At Siemens New Sherriff
Interesting profile of Peter Solmssen, Siemens newish general counsel and all around overseer of the company's anti-corruption efforts. Some re-hash here of Siemens recent travails, but also some decent handicapage of how Solmssen may fare in keeping the massive conglomerate on the straight and narrow. All via the, sadly soon to be discontinued, International Herald Tribune.
-- MDT
9/24/2008
-- MDT
Labels: general counsel, General Re, Peter Solmssen, Siemens
Feldmayer Tesitifies in Siemens Bribery Trial
In acknowledging his authorization of a $44 million payment to a German labor leader, Wilhelm Schelsky, "I don't want to escape my responsibilities, but I never thought at the time that this agreement with Schelsky would violate laws.'' Via Bloomberg.
-- MDT
9/15/2008
-- MDT
Labels: Johannes Feldmayer, Siemens, William Howard
Global Anti-Bribery Regime Begins to Take Shape
Finally getting serious about enforcing OFAC in the U.S. Not letting corporations write of their bribes as tax deductions in Europe - it's a whole new world out there!
-- MDT
9/04/2008
-- MDT
More Grief for Siemens 9/01/2008
When Bribery Isn't Bribery
That would be in Germany prior to 2002... And thanks to that Siemens has seen a €38 million fine overturned and a few bribery convictions along with it.
-- MDT
8/20/2008
-- MDT
Labels: bribery, overturned, Siemens
Siemens and the SEC Close to a Deal? 8/17/2008
News to Nobody: Siemens Internal Corruption Controls Found Lacking 8/10/2008
German Authorities Ready Siemens Trial On Illegal Trade Union Payments
The key figures are names that should be familiar to anyone who has been following the Siemens case Johannes Feldmayer (former Siemens bard member) and Wilhelm Schelsky (former head of the Association of Independent Employees trade union). Feldmayer is accused of going above and beyond to foster good relations with the AUB - tens of millions of dollars above and beyond.
For more on the upcoming trial, which has 100 witnesses lined up already, try the WSJ Law Blog. For more background on the Feldmayer and Schelsky try the tags below. We've got you covered.
8/05/2008
For more on the upcoming trial, which has 100 witnesses lined up already, try the WSJ Law Blog. For more background on the Feldmayer and Schelsky try the tags below. We've got you covered.
Labels: AUB, Johannes Feldmayer, Siemens, Wilhelm Schelsky
A Great Line
From Matt Daily at Reuters, RE: Klaus Kleinfeld, Siemens and Alcoa.
-- MDT
7/30/2008
-- MDT
Labels: Alcoa, Klaus Kleinfeld, Siemens
Siemens Director Reinhard Siekaczek Avoids Jailtime
Convicted on 49 counts of breach of trust, Siekaczek has been handed a two-year suspended sentence. He'll also pay hefty fine.
-- MDT
7/25/2008
-- MDT
Labels: convicted, Reinhard Sieaczek, Siemens
Former Siemens Top Brass Denies Wrongdoing, Post Schaefer Testimony
I know you're shocked, right?
Meanwhile, legal action against their former managers and executives is expected to be filed by Siemens next Tuesday.
Meanwhile, legal action against their former managers and executives is expected to be filed by Siemens next Tuesday.
-- MDT
Labels: Albrecht Schaefer, bribery, Heinz-Joachim Neubürger, Siemens
Siemens Plans to Loose the Legal Hounds on Former Managers Implicated in Bribery Scandal
This had been intimated by the Siemens brass for some time, but now things are starting to get official, as the company has announced its intent to file suit against 10 former board members, as well as the former chairman and chief executive.
- MDT
7/22/2008
- MDT
Former Anti-Corruption Chief Testifies in Siemens Bribery Trial, Results Ugly For Siemens Management
Surprising virtually no one, former Siemens anti-corruption official, Albrecht Schaefer indicated in his recent testimony that the company's top brass ignored the bribery that was happening right under their noses.
Moreover, Schaefer stated flatly that he personally informed several familiar names (Heinz-Joachim Neubuerger, Juergen Radomski, and Thomas Ganswindt) about the dubious practices he had observed.
-- MDT
7/07/2008
Moreover, Schaefer stated flatly that he personally informed several familiar names (Heinz-Joachim Neubuerger, Juergen Radomski, and Thomas Ganswindt) about the dubious practices he had observed.
-- MDT
Labels: Albrecht Schaefer, bribery, Heinz-Joachim Neubürger, Juergen Radomski, Siemens, Thomas Ganswindt
Prosecutors Finger Siemens Board Member in Union Bribes
Former Siemens executive board member, Johannes Feldmayer allegedly authorized more than $48 million in the service of bettering union relations.
That would do it, I imagine.
The German government, however, has taken a dim view of this action.
Both Feldmayer and AUB union boss, Wilhelm Schelsky have been charged in the Siemens bribery probe on fraud, tax evasion and beach of trust grounds.
Schelsky, for his part, has a back-log of other legal problems to boot.
More on Feldmayer and Schelsky via Blooomberg.
-- MDT
6/30/2008
That would do it, I imagine.
The German government, however, has taken a dim view of this action.
Both Feldmayer and AUB union boss, Wilhelm Schelsky have been charged in the Siemens bribery probe on fraud, tax evasion and beach of trust grounds.
Schelsky, for his part, has a back-log of other legal problems to boot.
More on Feldmayer and Schelsky via Blooomberg.
-- MDT
Labels: bribery, Johannes Feldmayer, Siemens, Wilhelm Schelsky
Bribery Convictions for Two Former Siemens Managers
Via the New York Times:
A seeming multitude of much more sprawling investigations are continuing into the company's business practices and no one is seeing bottom just yet.
-- MDT
6/24/2008
Andreas Kley, a former finance chief at Siemens’s power-generation unit, and Horst Vigener, a consultant — were convicted of paying about 6 million euros in bribes from 1999 to 2002 to help Siemens win gas-turbine supply contracts with Enel, an Italian energy company. The contracts were valued at approximately 450 million euros ($609 million).Along with the two convictions, Siemens itself has been ordered to pay $50 million in fines. Siemens has cried foul and has stated their plans to appeal the rulings.
A seeming multitude of much more sprawling investigations are continuing into the company's business practices and no one is seeing bottom just yet.
-- MDT
Labels: Andreas Kley, bribery, Horst Vigener, Siemens
Transparency International Shames Countries Soft on Corporate Bribery Prosecution
Read a brief UK-centric recap here or check out the full report at the Transparency website.
-- MDT
-- MDT
Labels: BAE, bribery, prosecution, Siemens
