A former Siemens AG executive pleaded guilty Wednesday in connection to a decadelong bribes-for-business investigation that reached the top echelons of the German engineering firm.
In 2008, Siemens agreed to pay a combined $1.6 billion in connection to the scheme. At the time, Siemens admitted to violating the Foreign Corrupt Practices Act by bribing government officials around the world, including former Argentine President Carlos Menem. One of the contracts at issue was a $1 billion national identity card project in Argentina.
On Wednesday, Andrés Truppel, former chief financial officer of Siemens Argentina, admitted in Manhattan federal court to conspiring to pay $100 million in bribes to Argentine government officials to win the $1 billion DNI project contract.
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