Feeds

US investigators tool up as pressure on Siemens grows

Two new investigations

SANS - Survey on application security programs

Siemens has revealed that it is under investigation by the US Department of Justice over allegations that it paid out some €420m in bribes to help it secure telecoms contracts outside of Germany.

The company, Europe's largest engineering firm, is also facing an informal investigation by the Security and Exchanges Commission, the Financial Times reports. Both investigations were disclosed in the company's first quarter report.

Siemens is already being investigated by prosecutors based in Munich, Italy, Greece, and Liechtenstein over the allegations.

The company has also hired a US law firm Debevoise to investigate the allegations on its behalf. It says it is prepared to share the results of the investigation with the DoJ and the Securities and Exchange Commission. It has also hired external auditors and an anti-corruption expert since the scandal broke.

The news follows a bumpy AGM, where spokespeople for current CEO Klaus Kleinfeld were forced to deny rumours that the company is preparing to replace him, should his name be dragged into the scandal.

Chairman Heinrich v. Peirer made a point of distancing himself from the scandal, which is alleged to have occurred while he was CEO. He told the AGM that he had taken steps to fight corruption within the company, and pledged his "unconditional support" for those working to clarify the situation, according to an IDG report. ®

High performance access to file storage

More from The Register

next story
Android engineer: We DIDN'T copy Apple OR follow Samsung's orders
Veep testifies for Samsung during Apple patent trial
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Don't let no-hire pact suit witnesses call Steve Jobs a bullyboy, plead Apple and Google
'Irrelevant' character evidence should be excluded – lawyers
EFF: Feds plan to put 52 MILLION FACES into recognition database
System would identify faces as part of biometrics collection
Ex-Tony Blair adviser is new top boss at UK spy-hive GCHQ
Robert Hannigan to replace Sir Iain Lobban in the autumn
Alphadex fires back at British Gas with overcharging allegation
Brit colo outfit says it paid for 347KVA, has been charged for 1940KVA
Jack the RIPA: Blighty cops ignore law, retain innocents' comms data
Prime minister: Nothing to see here, go about your business
Banks slap Olympus with £160 MEEELLION lawsuit
Scandal hit camera maker just can't shake off its past
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.