Defendant Name: Siemens Aktiengesellschaft

Defendant Type: Public Company

Document Reference: LR-20829

Document Details

Legal Case Name SEC v. Siemens Aktiengesellschaft
Document Name SEC Files Settled Foreign Corrupt Practices Act Charges Against Siemens AG for Engaging in Worldwide Bribery With Total Disgorgement and Criminal Fines of Over $1.6 Billion
Document Date 15-Dec-2008
Document Format Civil Proceeding
Case Number 08-cv-02167
Federal District Court District of Columbia, District of Columbia
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC stated that: "[It] filed a settled enforcement action on December 12, 2008, in the U.S. District Court for the District of Columbia charging Siemens Aktiengesellschaft ("Siemens"), a Munich, Germany-based manufacturer of industrial and consumer products, with violations of the anti-bribery, books and records, and internal controls provisions of the Foreign Corrupt Practices Act ("FCPA")."

Disgorgement & Penalty Information

Resolutions
Enjoinment
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Disgorgement

Individual:     $350,000,000.00 Shared:    

Related Documents:

comp20829 12-Dec-2008 Complaint
Complaint
The Commission stated: "Between March 12,2001 and September 30,2007 (the "Relevant Period"), Siemens Aktiengesellschaft ("Siemens" or the"Company') violated the Foreign Corrupt Practices Act . . . (the "FCPA") by engaging in a widespread and systematic practice of paying bribes to foreign government officials to obtain business. Siemens created elaborate payment schemes to conceal the nature of its corrupt payments, and the Company's inadequate internal controls allowed the illicit conduct to flourish. The misconduct involved employees at all levels of the Company, including former senior management, and reveals a corporate culture that had long been at odds with the FCPA."
court_doc3_08-cv-02167 15-Dec-2008 Complaint
Amended Complaint
The Commission stated: "Between March 12,2001 and September 30,2007 (the "Relevant Period"), Siemens Aktiengesellschaft ("Siemens" or the"Company') violated the Foreign Corrupt Practices Act . . . (the "FCPA") by engaging in a widespread and systematic practice of paying bribes to foreign government officials to obtain business. Siemens created elaborate payment schemes to conceal the nature of its corrupt payments, and the Company's inadequate internal controls allowed the illicit conduct to flourish. The misconduct involved employees at all levels of the Company, including former senior management, and reveals a corporate culture that had long been at odds with the FCPA."
court_doc4_08-cv-02167 15-Dec-2008 Court Docket Document
Final Judgment as to Defendant Siemens Aktiengesellschaft
On December 15, 2008, the Court issued a Final Judgment as to Defendant Siemens Aktiengesellschaft stating: "Defendant Siemens Aktiengesellschaft . . . consented to the entry of this Final Judgment without admitting or denying the allegations of the Complaint (except, solely for purposes of this action, as to jurisdiction); waived findings of facts and conclusions of law; and waived any rights to appeal from this Final Judgment."
2008-294 15-Dec-2008 Press Release--Civil Action
SEC Charges Siemens AG for Engaging in Worldwide Bribery
The SEC announced: "an unprecedented settlement with Siemens AG to resolve SEC charges that the Munich, Germany-based manufacturer of industrial and consumer products violated the Foreign Corrupt Practices Act (FCPA) by engaging in a systematic practice of paying bribes to foreign government officials to obtain business."