Former Siemens Executives Charged with Bribery

Three years after the company agreed to pay the U.S. government $1.6 billion to settle bribery charges, six former Siemens employees have been charged by U.S. prosecutors with paying $60 million in bribes to Argentine officials. One of the employees charged is Uriel Sharef, who was a member of the company’s board of directors. According to prosecutors, this is the first time a company the size of Siemens has had a board member charged under the Foreign Corrupt Practices Act (FCPA). The defendants in the case could face up to 20 years in prison on charges of money laundering and up to five years on the charges of bribery.
LA Times: Prosecutors charge former Siemens employees in bribery case (13 December 2011)
(Source: LA Times)