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Between 1996 and 2007 employees at Siemens, Europe’s largest engineering company, arranged for the company to pay bribes to win contracts from Iraq’s government in the United Nations oil-for-food program.
Corrupt payments were also made to ensure that the company won bids for commuter rail projects in Venezuela, mobile-phone networks in Bangladesh, power plants in Israel and traffic-control systems in Russia, among many other instances of corruption in various countries.
In 2008 Siemens pleaded guilty to the violation of international anti-corruption laws, and agreed to pay civil and criminal penalties amounting to $1.6bn.
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