German electronics company Siemens AG and three of its subsidiaries plead guilty to charges related to the U.S. Foreign Corrupt Practices Act. Siemens’ bribery effort was “unprecedented in scale and geographic reach,” SEC director of Enforcement says. Of $805.5 million bribery scheme, nearly $805 million went to bribes to foreign government officials, the DOJ and SEC say. Four Siemens subsidiaries were awarded 42 contracts with a combined value of more than $80 million with the ministries of electricity and oil in Iraq under the UN Oil for Food Program.”]
Source: https://www.csoonline.com/article/2123494/siemens-pleads-guilty-to-bribery-related-charges.html