Siemens to pay $1.4 billion to settle corruption scandal

12/17/2008 | Agence France-Presse

Siemens, a 161-year-old German industrial conglomerate with worldwide operations, brought an end to a huge corruption case by agreeing to pay almost $1.4 billion to U.S. and German authorities. Admitting that going to court might have cost a lot more, a Siemens executive said he was "happy and relieved to have negotiated this fantastic outcome."

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