Ex-Siemens top exec admits Argentina bribery
Source: Deutsche Welle
Ex-Siemens top exec admits Argentina bribery
Date 01.10.2015
A former top dog of the German engineering giant has pleaded guilty to a massive bribery scheme to win a billion-dollar contract with the Argentine government. He is the first of eight defendants to speak out.
Andreas Truppel, the former Chief Financial Officer (CFO) for Siemens Argentina, admitted his guilt before a Manhattan federal court, the US Department of Justice announced in a statement. Truppel confessed to having played "a significant role" in a "massive Siemens bribery conspiracy," stretching from 1994 to 2007. "I know this conduct was wrong," Truppel said in court. "I regret it."
Elaborate scheme
US Attorney Preet Bharara said the former top executive had conspired to grease Argentine government officials "to reap the benefits of a billion-dollar contract" to produce national identity cards. The bribes amounted to "close to $100 million" (89.7 million euros), the prosecutor said.
The elaborate scheme was conceived in the mid-1990s, when Buenos Aires issued a tender for bids to replace its outdate system of manually created national identity booklets with state-of-the-art cards.
Read more: http://www.dw.com/en/ex-siemens-top-exec-admits-argentina-bribery/a-18752622
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Andreas Truppel
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