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Siemens Will Pay $1.3B in Fines for Global Corruption

Company settles on US charges for $800M, shells out more over German accusations

By Harry Kimball,  Newser Staff

Posted Dec 15, 2008 3:15 PM CST

(Newser) – German engineering conglomerate Siemens pleaded guilty today to an international pay-to-play scheme and will pay the US $800 million in fines, the Wall Street Journal reports. It will also give $528 million to the German government—adding to a $275 million payout last year.
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