Settlements

ST-319
Siemens AG (Italy)
Siemens AG
Italy
Milan Prosecutors Office
Italy
2006
07/25
Germany, United States, World Bank
Legal Person
Criminal
Patteggiamento
Criminal Fine, Disgorgement of Profits
$8,373,905.00
$632,375
$7,741,530
$0
Art.16, Art.23, Art.26
Art. 1, Art. 2, Art. 7
Legislative Decree No. 231 of 8 June 2001 - Administrative Liability of Legal Persons
Legislative Decree No. 231 of 8 June 2001 - Administrative Liability of Legal Persons
Yes
According to the July 2006 Sentence ordered by the Milan Tribunal, Siemens entered into a plea agreement regarding the bribery by its executives of officials at state owned-Enelpower. According to the Sentence, the executives made bribery payments to the CEO of EnelProduzione and CEO of Enelpower in order to obtain secret information related to the bids. The bribe payments passed from bank accounts in Liechtenstein or via the Emirates Bank International (subsidiary of a British Virgin Island company) to different accounts of which the Enel executives were beneficiaries, via accounts of a foreign established company (the MEEISCO LLC), which was under the control of an intermediary. (Source: Sentence against Siemens AG and individual defendants issued by the Il Tribunale Ordinario di Milano (25 July 2006)).