Sunday, February 1, 2009
Volume:
25
Issue:
2
75
Abstract:
On December 15, 2008, Siemens Aktiengesellschaft (Siemens AG), a German corporation, and three of its subsidiaries pleaded guilty to violations of and charges related to the Foreign Corrupt Practices Act (FCPA) in the U.S. District Court for Washington D.C. Siemens agreed to penalties of $1.6 billion, including penalties assessed by the Securities and Exchange Commission. The combined U.S. penalties is the largest monetary sanction ever imposed in an FCPA case...[more]