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One of Siemens-8 pleads not guilty to Argentina bribes

A former Siemens executive indicted by the DOJ in 2011 for bribing officials in Argentina pleaded not guilty in federal court in New York City Friday.

Eberhard Reichert, 78, a German citizen, was released on bond of $500,000.

He’s scheduled to go on trial in July 2018.

Reichert is one of eight former Siemens executives and agents indicted in December 2011 for a criminal conspiracy to violate the FCPA, launder money, and commit wire fraud.

All were non-U.S. citizens living outside the United States.

Reichert agreed to be extradited to New York after his arrest in Croatia in September this year.

In 2008, Siemens AG pleaded guilty to violating the FCPA. It settled with the DOJ and SEC for $800 million.

Reichert was one of 17 current or former managers of Siemens charged in Argentina in December 2013. They were accused of bribing officials to help win a contract to produce national identity cards in the late 1990s.

Reichert worked for Siemens from 1964 to 2001 as an executive of Siemens Business Services.

Only one other of the so-called Siemens-8 has appeared to answer criminal charges in the United States.

In September 2015, Andres Truppel, the former CFO of Siemens Argentina, appeared in federal court in New York. He pleaded guilty to conspiring to violate the antibribery, internal controls, and books and records provisions of the FCPA, and to commit wire fraud.

Truppel, a dual citizen of Germany and Argentina, admitted that he and others paid nearly $1 million to a former official in Argentina’s Ministry of Justice.

As part of his plea, Truppel agreed to cooperate with authorities.

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Richard L. Cassin is the publisher and editor of the FCPA Blog.

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1 Comment

  1. Can someone tell me what is the difference between paying the American justice system to get out serving time in prison and bribing


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