CSR

Siemens just settled on a major international corruption case.  It turns out that over the past decade Siemens and some of its subsidiaries made at least 4,283 payments either to public officials or “agents” to secure or retain contracts.  The estimated amount of the payments made in more than ten countries surpassed $1.4 billion.  During the current case, the criminal damages from Siemens were calculated to amount for up to $2.7 billion.  Now fines totaling $1.6 billion have been charged; Siemens cooperation with the authorities is cited as reason for the somewhat reduced fine...