Siemens AG of Germany said in a statement that the Argentine government raided Siemens' office in Buenos Aires, Argentina, on Friday to investigate the bribery of Siemens during the Menem government in Argentina in the 1990s. Siemens officials also said that the company is currently investigating a number of suspicious issues involving a total amount of 1.3 billion euros ($2 billion).
The investigation mainly involved the bribery of Siemens during the 1990s when former Argentine President Menem was in power, and Siemens obtained a contract for the government to electronically digitize the national ID card. According to Argentine court documents, in order to obtain this contract worth 1.26 billion US dollars, Siemens is suspected of bribing a high-ranking government official including Menem. Among them, Menem directly paid bribes of 16 million US dollars, and the total amount of bribes including other officials may reach 100 million US dollars.
In 1998, the Menem government signed a contract with Siemens, but three years later, after the succession of President Duarte, it was abolished in the name of non-standard contract. To this end, Siemens spent $500 million to sue the Argentine government. It is reported that in order to bring the contract back to life, until Kirchner was in power in 2004, Siemens is still paying bribes. Former Siemens executives acknowledged the bribery of the Argentine government after the bribery scandal at the end of 2006, but Menem still denied the accusation.
It is understood that the Siemens department's blatant bribery in order to get the contract, the Siemens management is extremely embarrassing. Due to the expansion of the impact of the corruption scandal, management had to reorganize it at the beginning of last year. In the past year or so, the investigation of corruption within Siemens has continued to deepen and expand to other business units around the world. At the same time, allegations of bribery against Siemens have spread to other subsidiaries around the world. In addition to Argentina, other countries are also conducting criminal investigations against Siemens suspected financial misconduct. Since the end of 2006, the United States, Germany, Italy and Switzerland have successively investigated Siemens’ alleged bribery of company funds and imposed fines on related acts. In addition, according to informed sources, nearly half of Siemens China’s business involves bribery.
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The Siemens Group, based in Berlin and Munich, is one of the world's largest electrical engineering and electronics companies. With operations in more than 190 countries worldwide, it has approximately 600 plants, R&D centers and sales offices worldwide.
The company's business focuses on six major areas: information and communications, automation and control, power, transportation, medical systems and lighting. Siemens' global business operations are handled by 13 business groups, including Siemens Financial Services Ltd. and Siemens Real Estate Asset Management Group.
In addition, Siemens has two joint ventures, Bosch-Siemens Home Appliances Group and Fujitsu Siemens Computers (Holdings).
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