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Siemens China Business Under Investigation
August 22, 2007 |
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| Category: Law & Policy
Affected by the bribery scandal in Europe, Siemens' business in China is now under the investigation by a law firm from the United States.
Germany's Economic Weekly cited staff from Siemens as saying that up to half of Siemens' business in China was involved in bribery. It said that about 90% of Siemens China's businesses were conducted through a third party, which is now being investigated by Siemens.
A top management from Siemens China has denied the report of the Economic Weekly, but the person admitted that Siemens' business in China is being investigated by Debevoise & Plimpton from the United States. He added that it is still too early to say that Siemens China was offering bribes as there is still no evidence about it.
In November 2006, German authorities foraged about the headquarters of Siemens and arrested six former or existing employees of the company who had been suspected of bribery.
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