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Pemex Sues Siemens AG Over Bribery Claims-Reuters

Thursday, 13 Dec 2012 08:33pm EST 

Reuters reported that State-owned Mexican oil company Pemex has sued Siemens AG and a South Korean company for $1.5 billion, over a bribery scheme that has dogged the German conglomerate for years. Siemens neither admitted nor denied the allegations in settling with the SEC. The lawsuit seeks at least $500 million in damages, which could be tripled under the Racketeer Influenced and Corrupt Organizations Act. Guenter Gaugler, a spokesman for Siemens, and officials with Mexico City-based Pemex declined comment. 

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