Siemens executive concedes firm likely paid bribes in Hungary

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German engineering giant Siemens very probably paid bribes in Hungary, both in the public and the private sectors, Laszlo Szentkuti, who heads Siemens Nemzeti Vallalat, one of Siemens’ units in Hungary, said when asked by MTI at a press conference on Wednesday.

Inquiries into at least eight deals in Hungary are being made, including the purchase of Combino trams for the capital, Mr Szentkuti said. So far, the investigation has produced no proof, but the size of the bribes could be as much as a billion forints, he added.

Siemens is under investigation for alleging paying hundreds of millions of euros in bribes to win contracts in countries around the world. The company has since introduced strict anti-corruption controls.

Siemens employs about 2,550 people in Hungary. Its units have combined annual revenue of about HUF 110bn.

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Viking says:

July 31, 2008 at 11:58 am

If we toy with the idea that there will be a valid conviction that Siemens paid bribes to win the Combino tram contract.

According to current Hungarian laws, what would happen with the contract?

Would Siemens be obliged to pay some kind of compensation to the City?

Or will it just only be the actual persons convicted in the final verdict that will be punished?

A rather strong statement: “very probably paid bribes in Hungary, both in the public and the private sectors”.