Category Archives: Germany

Stricter Legislation On Corruption In Healthcare Looming

By Jost Arnsperger on March 22nd, 2013 Posted in Commercial Bribery, Germany, Industry Investigations

For years there has been a public debate in Germany about corruption in the healthcare sector – not least because of the huge economical detriments. Experts estimate that corruption in the health care system causes damages of up to EUR 18 billion, which corresponds to ten percent of the entire healthcare expenditure. Of particular interest… Continue Reading

Allianz, SEC reach $12.3M agreement in settlement over charges of FCPA Violation

By Jost Arnsperger on January 15th, 2013 Posted in FCPA Jurisdiction, Germany

On December 17 2012 Allianz SE, a major German insurance and asset management company, reached a settlement with the Securities and Exchange Commission (SEC) on charges of violating the Foreign Corrupt Practices Act (FCPA). In return for a payment of $12.3M SEC committed to abstain from further inquiries regarding the subject of the procedure –… Continue Reading

Magyar Telekom, Deutsche Telekom Settle FCPA-Related Actions

By Daniel Matzkin on January 12th, 2012 Posted in Commercial Bribery, Foreign Corrupt Practices Act, Germany, Telecommunications

Magyar Telekom Plc and its majority owner Deutsche Telekom AG have agreed to pay a total of approximately $95 million in penalties arising from alleged violations of the anti-bribery and books and records provisions of the Foreign Corrupt Practices Act (“FCPA”) stemming from conduct in Macedonia and Montenegro. Conduct Between 2005 and 2006, former executives… Continue Reading

Munich-based media group sues Bernie Ecclestone and Gerhard Gribkowsky for $ 171 million

By Jost Arnsperger on September 13th, 2011 Posted in Germany

According to German newspaper Münchner Merkur Munich-based media group Constantin Medien AG sued Formula One boss Bernie Ecclestone, his holding company Bambino and former board member of the Bavarian Regional Bank (BayernLB) Gerhard Gribkowsky for $ 171 million in damages. Reportedly the legal action has been filed at London’s High Court of Justice. The plaintiff… Continue Reading

Germany: Recent Developments in Major Bribe Cases

By Jost Arnsperger on June 21st, 2011 Posted in Germany

Second former Siemens board member charged According to reports in several newspapers, Munich prosecutors indicted a former Siemens Manager in connection with the Siemens bribery scandal. Multiple sources allege the affected person to be former Siemens board member Uriel Sharef. He would be the second Siemens Manager within a few months having to stand trial…. Continue Reading

Court Proceedings Begin Against Former Siemens Board Member

By Squire Sanders on January 28th, 2011 Posted in Siemens

The following blog post has been contributed by SSD’s Andreas Fillmann. The attorneys of a former member of Siemens AG’s management board, Thomas Ganswindt, have won a first victory in Mr. Ganswindt’s recently opened criminal trial. The trial, taking place in a Munich regional court to determine his involvement in a Siemens corruption scandal, was… Continue Reading

A Few Bad Apples: Corruption In the EBRD

By Squire Sanders on January 21st, 2011 Posted in European Bank for Reconstruction and Development, Multilateral Development Bank, Russia, Siemens, World Bank

Four Russian officials appointed by the Russian Economic Development Industry to the European Bank for Reconstruction and Development (EBRD) are being investigated by the City of London and Russian police for charges that include accepting bribes and doling out false credits to various projects. According to an EBRD spokesman, it is not clear what spurred… Continue Reading