Siemens to pay euro75M to help UN anti-corruption efforts; no bids on World Bank-backed projects

MUNICH — German industrial conglomerate Siemens AG said Thursday it has agreed to pay euro75 million over 15 years to help bolster international anti-corruption efforts and to refrain from bidding for contracts under World Bank-financed projects until 2011.

German prosecutors charge ex-Siemens manager, 2 others in corruption case

MUNICH, Germany — German prosecutors have charged a former top-ranking Siemens AG manager with breach of trust for his alleged role in a widespread corruption scandal at the Munich-based industrial conglomerate, an official said Saturday.