Siemens AG executives in Argentina bribed government officials to help win a $1 billion contract to produce national identity cards in 1998, the top US market regulator said in a civil complaint on Tuesday. The complaint filed in Manhattan federal court said executives paid $100 million in bribes in Argentina, about $31.3 million of which were made after March 12, 2001 when Siemens became subject to US securities laws.
The US Securities and Exchange Commission said Siemens executives paid "scores of millions of dollars in bribes" intended for top officials between 1996 and 2007, including two presidents and cabinet ministers. A Siemens spokesman declined comment. The case is US Securities and Exchange Commission v Uriel Sharef et al, US District Court for the Southern District of New York, No 11-9073.
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