According to the Complaint in US Securities and Exchange Commission, in 2004, a Milan judge issued a written opinion that Siemens viewed bribery at least as a possible business strategy and that "Subsequently, Siemens, along with two of its PG managers, entered into a plea bargain with criminal authorities in Italy pursuant to which Siemens paid a €0.5 million fine, gave up €6.2 million in profits and was barred fiom selling gas turbines in Italy for one year." (Source: US Securities and Exchange Commission v. Siemens AG, Case No. 1:08-cv-02167 (D.D.C.), Complaint filed December 12, 2008, para 23.)
According to a 2007 Siemens company statement, "the agreement was In Italy, legal proceedings against two former employees ended when the “patteggiamento” (plea bargaining procedure without the admission of guilt or responsibility) by the charged employees and Siemens AG entered into force in November 2006." (Source: Siemens, "Legal Proceedings - Fiscal 2007," November 8, 2007.)
According to the Complaint in US Securities and Exchange Commission, in 2004, a Milan judge issued a written opinion that Siemens viewed bribery at least as a possible business strategy and that "Subsequently, Siemens, along with two of its PG managers, entered into a plea bargain with criminal authorities in Italy pursuant to which Siemens paid a €0.5 million fine, gave up €6.2 million in profits and was barred from selling gas turbines in Italy for one year." (Source: US Securities and Exchange Commission v. Siemens AG, Case No. 1:08-cv-02167 (D.D.C.), Complaint filed December 12, 2008, para 23.)
In the jurisdiction of asset recovery (Italy), the investigative agency was the Milan Pubilc Prosecutor.
The court involved was the Milan Judge.
Assets returned
| Document Title | Size and Format | Document Type | |
|---|---|---|---|
| Siemens SEC Amended Complaint | 1.5 MB pdf | Court document | Download |