Bribery
#16
BE Forum Addict
Joined: Jan 2008
Posts: 1,869
Re: Bribery
B- So as per usual, it's all about money and nothing to do with ethics.
Spot the difference.
#17
Re: Bribery
Are you suggesting that the UK is more corrupt than the UAE?
Interesting survey here: http://cpi.transparency.org/cpi2011/results/
Interesting survey here: http://cpi.transparency.org/cpi2011/results/
As for the index... Given that I work in all the red to dark red places, I know it well. That said, I'm always more interested in who made the survey and their agenda than the results.
#18
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Bribery
This puts it into perspective. Total cost to Siemens was probably well in excess of EUR 2 billion.
BERLIN (AFP) — German industrial giant Siemens agreed to pay nearly one billion euros (1.4 billion dollars) to US and German authorities on Monday to settle a sprawling corruption scandal.
Acknowledging the legal problems could have proved far more costly had it gone to court, company chief Peter Loescher said he was "happy and relieved to have negotiated this fantastic outcome in record time".
"This is for everyone at Siemens the best Christmas present," he told Tuesday's issue of the mass-market daily Bild.
Under the German settlement, prosecutors said Siemens would pay 395 million euros, on top of a fine of 201 million euros last year over charges it had run an elaborate bribe-and-kickback system to secure foreign contracts.
Under a separate US court settlement Monday, Siemens pleaded guilty to corruption charges and agreed to pay 800 million dollars to avoid prosecution.
The group was fined 450 million dollars and agreed to a 350-million-dollar settlement with the US Securities and Exchange Commission (SEC), according to court documents.
The scandal could have cost the company even more dearly, however, with speculation running rampant for months that the SEC alone could levy fines of several billion euros.
The 161-year-old conglomerate with activities from nuclear power stations to trains and light bulbs has acknowledged that up to 1.3 billion euros may have been used illegally to win foreign contracts.
Siemens, which employs some 400,000 people worldwide, found in an exhaustive internal investigation that the practice was widespread across its numerous divisions.
US authorities said Siemens had used slush funds, off-book accounting and delivered suitcases full of cash to bribe officials to secure contracts in Argentina, Bangladesh, Iraq and Venezuela.
BERLIN (AFP) — German industrial giant Siemens agreed to pay nearly one billion euros (1.4 billion dollars) to US and German authorities on Monday to settle a sprawling corruption scandal.
Acknowledging the legal problems could have proved far more costly had it gone to court, company chief Peter Loescher said he was "happy and relieved to have negotiated this fantastic outcome in record time".
"This is for everyone at Siemens the best Christmas present," he told Tuesday's issue of the mass-market daily Bild.
Under the German settlement, prosecutors said Siemens would pay 395 million euros, on top of a fine of 201 million euros last year over charges it had run an elaborate bribe-and-kickback system to secure foreign contracts.
Under a separate US court settlement Monday, Siemens pleaded guilty to corruption charges and agreed to pay 800 million dollars to avoid prosecution.
The group was fined 450 million dollars and agreed to a 350-million-dollar settlement with the US Securities and Exchange Commission (SEC), according to court documents.
The scandal could have cost the company even more dearly, however, with speculation running rampant for months that the SEC alone could levy fines of several billion euros.
The 161-year-old conglomerate with activities from nuclear power stations to trains and light bulbs has acknowledged that up to 1.3 billion euros may have been used illegally to win foreign contracts.
Siemens, which employs some 400,000 people worldwide, found in an exhaustive internal investigation that the practice was widespread across its numerous divisions.
US authorities said Siemens had used slush funds, off-book accounting and delivered suitcases full of cash to bribe officials to secure contracts in Argentina, Bangladesh, Iraq and Venezuela.
#19
BE Forum Addict
Joined: Jan 2008
Posts: 1,869
Re: Bribery
Can't resist stirring,
but have they ever been caught in this kind of scandal involving Denmark, or Canada, or Belgium?
(beat ya to it , Norm)
but have they ever been caught in this kind of scandal involving Denmark, or Canada, or Belgium?
(beat ya to it , Norm)
#20
Re: Bribery
In a nut shell they bribed the World Bank (who fall under the UN), got caught and reached an agreement to not work for 4 years and donate 100m to some good causes - which ironically were managed by the World Bank.
It is naive to think that the west is clean. We just do it differently, which - thankfully - doesn't affect our daily lives.
#23
BE Forum Addict
Joined: Mar 2011
Posts: 1,132
Re: Bribery
Mods! We cannot have different and inconsistent rules for (aledged) Copyright Material! - Please exercise Consistent Enforcement; otherwise I will 'Chuck my Hoover!'
#25
Re: Bribery
8500 corruption complaints last 3 years apparently (not saying they are all proved btw, as the referral rate is low)
Last edited by weasel decentral; Jun 19th 2012 at 8:48 am.
#26
Account Closed
Joined: Feb 2011
Posts: 0
Re: Bribery
They may not be taking 50 quid to look the other way for a speeding fine but after all the leaks to the press, cases of fitting people up, battering the odd innocent I wouldn't be making your claim.
8500 corruption complaints last 3 years apparently (not saying they are all proved btw, as the referral rate is low)
8500 corruption complaints last 3 years apparently (not saying they are all proved btw, as the referral rate is low)
#29
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112