Siemens Paid $17m Dollar Bribe To Nigerian Ministers!

Nov. 16 (Bloomberg) — Siemens AG paid 77 bribes totaling 12 million euros ($17.6 million) to officials in Nigeria, Libya and Russia, according to an Oct. 4 Munich court ruling that’s been reviewed by the Wall Street Journal.

The text wasn’t made public at the time and Siemens wouldn’t disclose the names of those who gave and took bribes, the newspaper said.

The court concentrated on bribes between 2001 and 2004 connected with Reinhard Siekaczek, formerly a manager at the German company’s telecommunications equipment division; Siekaczek has been indicted on embezzlement charges and is likely to face trial early in 2008, the Journal said.

He’s told prosecutors that he’s aware of bribes paid with the knowledge of senior Siemens managers in countries other than the three named in the October ruling, the newspaper said, citing separate court records.

That might lead to further criminal investigations and more fines in countries where Siemens operates, including the U.S., the Journal said.

Most of the bribery money, about 10 million euros, went to Nigerians, including four former ministers, according to the ruling; in Russia, payments totaling about 2 million euros were made to senior managers at regional state-controlled telephone companies; and 300,000 euros went to officials at Libya’s state- run post and telecommunications company, the newspaper added.

Siemens was fined 201 million euros by the Munich court in October after an investigation that took in at least six countries and that prompted the resignations of Chairman Heinrich von Pierer and Chief Executive Officer Klaus Kleinfeld in April.

– Bloomberg News


One response to “Siemens Paid $17m Dollar Bribe To Nigerian Ministers!

  1. Since 2 + 2 = 4, and 4 + 4 – 8, therefore the (then) Minister for Telecommunication/Communication = The bribe Taker! If the then “Hon” Minister denies, (because not all alledgations are true!), he can show an anti-graft body his bank statements! TRUE ONES, please!

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