Feeds

US investigators tool up as pressure on Siemens grows

Two new investigations

Secure remote control for conventional and virtual desktops

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. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
10 Top Tips For PRs Considering Whether To Phone The Register
You'll Read These And LOL Even Though They're Serious
Stop ROBOT exploitation, cry striking Foxconn workers
HP downturn and automation eroding overtime on China's production lines
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.