Arab Today, arab today siemens to pays €38m in israel corruption case
Last Updated : GMT 05:59:16
Arab Today, arab today
Arab Today, arab today

Siemens to pays €38m in Israel corruption case

Arab Today, arab today

Arab Today, arab today Siemens to pays €38m in Israel corruption case

Siemens to pays €38m in Israel corruption case
Amman - Petra

Siemens AG will pay Israel 38 million euros to settle a decade-old corruption case, Israeli media reported late Monday, citing the Justice Ministry in Jerusalem.

The agreement arises from around 2000, when the German giant of Siemens allegedly bribed six Israel Electric Corporation executives to win a bid for turbines, the business newspaper Globes reported.

The settlement was announced by Israel's Justice Ministry, which has been investigating whether Siemens paid millions of dollars in bribes to officials at Israel Electric Corp (IEC) to win contracts from 1999 to 2005.

The six executives, who were arrested in December 2014, will face criminal charges in the case including bribery, fraud and money laundering, reports revealed.

 

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