Corp-Ethics Home
Log In | Register New User
Home Company Search Related Articles Forum (new!)

Company Siemens [Company Info]
  Track this Company (an email will be sent to you everytime a report is filed about this company)

Date Issue Title
21st Nov 2007 Other Issue Nigeria probes Siemens bribe case

A Nigerian anti-corruption agency has begun investigating former ministers alleged to have taken bribes from the German telecoms firm, Siemens.

Siemens was found guilty of paying bribes and was fined 201m euros ($248m) by a Munich court on 4 October.

Names on the court papers that emerged last week included Bello Mohammed Haliru, the late Haruna Elewi and Tajudeen Olanrewaju.

Dr Mohammed and Gen Olanrewaju have denied taking payments from Siemens.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has summoned more than 10 officials for questioning into the affair, after President Yar' Adua ordered the security agencies to "take appropriate legal action".

The president's special adviser on communications, Olusegun Adeniyi, issued a statement giving an assurance from Mr Yar'Adua that "in this Siemens scandal, as in all cases that border on good governance and transparency, there will neither be sacred cows nor a cover up for anybody found culpable of breaching the law".

Siemens's own investigations uncovered more than 1.3bn euros in suspicious payments, 10m of which were said to have been paid to the Nigerian ministers or officials between 2001 and 2004.

The company's chairman and chief executive both quit over the scandal and at least two employees were given suspended sentences for bribery and breach of trust.

Siemens has accepted the Munich court judgement and has also agreed to pay 179m euros to the tax authorities.

However, it faces even higher fines in the United States if it is found to have systematically bribed its way into winning contracts.

Other Reports on Siemens
Date Issue Company Report
4th Oct 2007 Other Issue Siemens Siemens fined after bribery probe
14th May 2007 Criminal Investigation Siemens Siemens ex-managers found guilty
18th Jun 2004 Questionable Practice Siemens Siemens staff told to work longer hours

Related Reports from the Electronics Industry
Company Issue Report
Intel Other Issue EU regulator raids Intel offices
Intel Other Issue Intel faces S Korean sales probe
Infineon Other Issue Infineon rocked by bribery claims
Samsung Fraud Investigation Prosecutors question Samsung boss
Sony Other Issue Washington chip probe eyes Sony
Contact Us | Terms of Service | Privacy Policy | Add Report | Links
© 2006 | Corporate Ethics