Israel Detains Six For Alleged Bribery Involving Siemens

Six Israelis have been arrested, accused of taking bribes from the German firm Siemens in exchange for securing contracts with Israel Electric Corporation. The detainees, all current or former executives with IEC, are alleged to have accepted $20 million over a period of years. The Israel Securities Authority, Israel’s securities regulator, said the bribes were part of a world-wide pattern of bribery for which Siemens has agreed to pay $1.3 million in fines.