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The company was also obligated to spend $1 billion on setting up and funding new internal compliance regimens. All of our usb gamecube controller are on sale right now. This was the largest bribery fine in history, at the time. Great selection of usb gamecube controller at the guaranteed lowest price. The company paid a total of about $1.6 billion, around $800 million in each of the US and Germany. Settlement negotiations took place through most of 2008 with settlement terms announced in December 2008. Over that time period the company paid around $1.3 billion in bribes in many countries and kept separate books to hide them. The investigators found that bribing officials to win contracts was standard operating procedure. Siemen's activities came under legal scrutiny when complaints from prosecutors in Italy, Liechtenstein and Switzerland lead to German authorities opening investigations, followed by a US investigation in 2006 concerning their activities while listed on US stock exchanges. One component of this scandal was the Siemens Greek bribery scandal over deals between Siemens and Greek government officials during the 2004 Summer Olympic Games. Siemens and its subsidiaries employ approximately 385,000 people worldwide and reported global revenue of around €87 billion in 2019 according to its earnings release.īeginning in 2005, Siemens became embroiled in a multi-national bribery scandal. The company is a component of the Euro Stoxx 50 stock market index. The company is a prominent maker of medical diagnostics equipment and its medical health-care division, which generates about 12 percent of the company's total sales, is its second-most profitable unit, after the industrial automation division. The principal divisions of the company are Industry, Energy, Healthcare (Siemens Healthineers), and Infrastructure & Cities, which represent the main activities of the company. Siemens AG (ˈziːməns-mɛns|) is a German multinational conglomerate company headquartered in Munich and the largest industrial manufacturing company in Europe with branch offices abroad.