Since 2000, Siemens spent $1.7 billion on some 4,000 bribes in a dozen countries. Last year, they got fined $1.4 billion by the US and German governments. This week, they got more punishment, this time for bribery involving a World Bank project in Russia.
For the next two years, Siemens is banned from doing business with the World Bank, and must pay $100 million to anti-corruption agencies -- albeit, over 15 years.
Comments