Siemens to Pay $175,000 Fine for Not Disclosing Felony Convictions
Siemens agreed to pay a $175,000 fine for not disclosing two corporate felony convictions on a variety of FCC wireless license applications. The convictions stem from Siemens in 2008 pleading guilty to violating the accounting provisions of the Foreign Corrupt…
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Practices Act through bribery of foreign government officials and from a 2007 guilty plea to a federal charge of obstruction of justice in a civil matter, said the Enforcement Bureau in its order issued Thursday. The failure to disclose "is particularly troubling because the underlying acts included misdeeds involving foreign telecommunications regulators," the bureau said, saying the consent decree includes that the two Siemens subsidiaries involved -- Siemens Corp. and Siemens Medical Solutions -- corrected the wireless application submissions on their own initiative and were fully cooperative with a bureau investigation afterward. Under the consent decree, the two also will develop and implement a compliance plan aimed at ensuring accurate future filing of wireless license applications, including a compliance manual and compliance training. Siemens didn't comment.