Settlements

ST-328
Siemens AG / Siemens S.A. (Venezuela)
Siemens AG
United States
Department of Justice
Venezuela
2008
12/15
Germany, The World Bank
Legal Person
Criminal
Guilty Plea
Criminal Fine
$500,000.00
$500,000
$0
Art.16, Art.23, Art.26
Art. 1, Art. 2, Art. 7, Art. 8
Conspiracy to Bribe Foreign Officials
Conspiracy to Bribe Foreign Officials
Yes
According to the June 2011 United States Report to the OECD, "On December 11, 2008, Siemens Aktiengesellschaft (Siemens AG), a German corporation, and three of its subsidiaries were charged in separate criminal informations filed in the U.S. District Court for the District of Columbia for their roles in a scheme to bribe foreign officials in several countries. [ ] From 2001 through 2007, Siemens Venezuela made and caused to be made corrupt payments of at least $18,782,965 to various Venezuelan officials, indirectly through purported business consultants, in exchange for favorable business treatment in connection with two major metropolitan mass transit projects called Metro Valencia and Metro Maracaibo. Some of those payments were made using U.S. bank accounts controlled by the purported business consultants." (Source: US Report to the Organisation for Economic Co-operation and Development, "Steps taken to implement and enforce the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions," Information as of May 31, 2011, Siemens Aktiengesellschaft (Siemens AG) Case Summary at 70-73.)