Criminal proceedings against entities under German law only are possible under provisions of the Code of Administrative Offences (Gesetz über Ordnungswidrigkeiten). The applicable provisions have recently been tightened and now provide the imposition of a fine of up to ten million Euros upon an entity that has failed to perform its duties regarding the prevention … Continue Reading
Introduction Since the bribery scandals of international magnitude involving German multinational companies like Siemens as well as the local scandals among public officials and politicians, Germany’s enforcement of anti-bribery and corruption law has increased steadily and resulted in significant number of prosecutions and sanctions imposed in domestic as well as in foreign anti-bribery and corruption … Continue Reading
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
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
Mannheim Public Prosecutor’s office announced they are currently reviewing whether official preliminary proceedings against Germany based company Energie Baden-Wuerttemberg (EnBW) will be initiated. Possible charges comprise embezzlement, tax evasion and bribery. Mannheim prosecutors, specialized in white-collar crime, took over the case from Karlsruhe Public Prosecutor’s office where the proceedings were investigated since September 2011. EnBW, … Continue Reading
Europe’s largest insurance company, Germany-based Allianz SE, apparently is about to limit damages sustained by United States Securities and Exchange Commission (SEC) investigations. The insurer had been under US investigation for its possible involvement in two major bribe cases. The first case began after allegations gave rise to suspicion that Allianz employees were involved in … Continue Reading
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
On Monday, July 18th, Munich prosecutors indicted Gerhard Gribkowsky, former board member of the Bavarian Regional Bank (Bayerische Landesbank, also known as BayernLB), for tax evasion, breach of trust and receipt of corrupt payments. The accusations include failing to pay taxes in Germany trying to conceal payments of bribery money. The defendant has been in … Continue Reading
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
