Siemens grapples with widening corruption probe

Article Abstract:

Siemens AG of Germany is being investigated for fraud, discovering 420 million Euros ($556 million) in suspicious transactions over the past seven years. The engineering company has notified the United States Securities and Exchange Commission and the United States Justice Department. A former executive, Thomas Ganswindt has been arrested.

ELECTRONIC & OTHER ELECTRIC EQUIPMENT, Germany, Electronics industry, Siemens AG

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Indictments sought in probe of Cirio

Article Abstract:

Cirio Finanziaria S.p.A. of Italy is under investigation for financial mismanagement. The food company went bankrupt in 2002, defaulting on greater than 1 billion Euros in debt and leaving about 35,000 investors with worthless shares. Fourty four people are being investigated by Italian authorities.

Italy, FOOD AND KINDRED PRODUCTS, Food industry, Food and beverage production/distribution software, Cirio Finanziaria

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Stockman Charged in Alleged C&A Fraud

Article Abstract:

David A. Stockman, Collins & Aikman Inc. of the United States is accused of fraud. The former budget director for the United States government is accused of "lies, tricks and fraud" in trying to turn around the troubled automotive parts supplier.

Motor vehicle parts and accessories, United States, Automobile equipment and supplies industry, Automotive parts industry, Stockman, David A., Collins and Aikman Group Inc.

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