Siemens greases the palms

Noseweek Issue #120, 1st October 2009   


Siemens greases the palms

 

Reinhard Siekaczek was half asleep in bed when his doorbell rang early one morning in November 2006.

Still in his pyjamas, he peeked out his bedroom window, hurried downstairs and flung open the front door. Standing before him in the cool, crisp dark were six German police officers and a prosecutor. They held a warrant for his arrest.

 

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Keywords:
Bribery
Commission
Corruption
Tender Rigging
Cartel
New York
Siemens Ag
Siemens
South Africa
Electrical
European
Investigation
Agent
Slush Fund
Black Money
Reinhard Siekaczek
Security Exchange Commission
U S Justice Department
Fines
Consultants
Business Model
Johannes Feldmayer
Heinz-Joachim Neubuerger
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Submitted by : Donovan Jackson of Weltevreden Park on 2009-10-05 07:20:20
I've always suspected that the only way Siemens remains successful is through bribery. Many of its telecoms products are, to put it bluntly and a little rudely, shit. No comparison with those from eg Cisco and the stuff out of Taiwan and China.

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