As many suspected from the start, management knowledge of Siemens' bribery allegations now appears to date back much further than the firm had previously admitted - as far back as 2003. Not exactly news to anyone who has been reading this space for any length of time...

But now Siemen's former compliance officer, Albrecht Schaefer - who was cut loose back in August of 2007 - has it on the record in court that he informed chairman Heinrich von Pierer (who, for his part, is facing other indignations this week) and other top managers about the bribes.

In fact, he even wrote of the bribes as business strategy in an internal document in 2004. Read all about it at Deutsch Welle.


-- MDT

Labels: Albrecht Schaefer, bribery, Heinrich von Pierer, Peter Loescher, Siemens

Check it out, right here.

-- MDT

Labels: Peter Loescher, Siemens, The Economist

On the eve of Peter Loescher's takeover of the Siemens C-suite the company's newly appointed anti-corruption officer is calling it a day. Daniel Noa, a former state prosecutor and the current head of Siemens compliance group, has apparently been forced out by unfriendly forces within the company. The FT mentioned something cryptic about him not trusting the Siemens legal department... Noa will remain as a consultant for the next eighteen months. Despite all this, the company insists tat its internal clean-up is proceeding apace.

-- MDT

Labels: bribery, corruption, Daniel Noa, Peter Loescher, Siemens