[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 4 October 2007, 17:12 GMT 18:12 UK
Siemens fined after bribery probe
Siemens HQ in Munich
The firm has faced a series of probes over corruption
Siemens has been fined 210m euros ($248m; 145.5m) by a German court following an investigation over whether workers paid bribes to gain contracts.

Siemens also agreed to pay 179m euros to the tax authorities, after a failure to declare payments properly.

The decision comes amid a series of inquiries into whether the firm illegally gained telecom transactions.

The decisions conclude German investigations into "illegal conduct and tax violations", said Siemens.

The company said it would not appeal against the decision, made by the Munich District Court.

Allegations of corruption and bribery have prompted the arrest of several current and former executives.

In May, Andreas Kley was given a two-year suspended sentence for bribery and breach of trust, while Horst Vigener was given nine months' probation.

US law firm Debevoise & Plimpton has been conducting an independent enquiry into the firm that continues.

SEE ALSO
US Siemens fraud probe formalised
26 Apr 07 |  Business
Boss to quit scandal-hit Siemens
25 Apr 07 |  Business
Siemens chair quits amid scandal
20 Apr 07 |  Business
Siemens executive kept in custody
28 Mar 07 |  Business
Siemens corruption trial starts
13 Mar 07 |  Business
Siemens boss rules out resigning
12 Feb 07 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific