Former Siemens executives to pay record bribery fines, rules court

Former Siemens executives Ulrich Bock and Stephan Singer must each pay a $524,000 penalty

In 2008, Siemens AG ended a massive bribery investigation with an $800 million settlement that set a record for a corporate foreign bribery case. But the executives involved with the case were not forced to pay a single penny — until now.

U.S. District Court Judge Shira Scheindlin has ordered former Siemens executives Ulrich Bock and Stephan Singer to each pay a $524,000 penalty related to the bribery. Bock must also pay approximately $414,000 in disgorgement and interest as well.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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