Corruption - Siemens in Bangladesh

Feds seek $3 million in Siemens bribe money\

The U.S. government is trying to seize $3 million including bribe payments paid by Siemens to win contracts in Bangladesh.

Using laws that impose U.S. jurisdiction over money laundering that flows through U.S. financial institutions, the Department of Justice says it is seeking the money from accounts in Singapore. Most of the money involved was paid to the son of the former prime minister of Bangladesh.

The bribes were made in return for favorable consideration in the award of public works projects in Bangladesh, the Justice Department says. Siemens Bangladesh has admitted to funneling corrupt payments through business consultants to government officials in the country. In all, the Siemens subsidiary paid $5.3 million in illegal payments between 2001 and 2006.