Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Former Siemens executive pleads guilty in $100M foreign bribery case

Jaclyn Jaeger | March 16, 2018

The former technical manager of the Major Projects division of Siemens Business Services GmbH & Co. OGH (SBS), a wholly owned subsidiary of Siemens AG, pleaded guilty this week to conspiring to pay tens of millions of dollars in bribes to Argentine government officials to secure, implement,  and enforce a $1 billion contract to create national identity cards.

Eberhard Reichert, of Munich, Germany, was employed by Siemens AG from 1964 until 2001. Beginning in approximately 1990, Reichert was the technical manager of the Major Projects division of SBS. He pleaded guilty on March 15, 2018, in the Southern District of New York to one count of conspiring to violate the anti-bribery, internal controls and books and records provisions of the Foreign Corrupt Practices Act and to commit wire fraud.  

Reichert was arraigned last December on a three-count indictment filed in December 2011 charging...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.