Washington - Siemens Bangladesh, a subsidiary of German corporate giant Siemens AG, has agreed to pay a 500,000-dollar criminal fine to the United States to help settle a global bribery case, US officials said Monday.
The fine is a small part of the 1.3 billion dollars that the Siemens parent firm has agreed to pay to the US and German governments. That sum includes 800 million dollars to be paid in the United States, according to documents filed in US District Court in Washington.
US officials said that Siemens had violated the rules of the New York Stock Exchange, where the German company has been listed since 2001, and its Foreign Corrupt Practices Act. In addition, some of the illegal payments were made from US banks.