Siemens stained by multimillion bribery scandal

GIANT GERMAN CONGLOM Siemens doled out millions of racks in Eurocoins to win contracts in Russia, Libya and Nigeria, the Wall Street Journal reported.

Hacks there have seen a ruling by a German court which named telco ministers in these countries as the lucky recipients of 77 bribes worth an estimated 12 million Euro.

Siemens was fined 201 million Euro for the infractions, said the Journal, but the case is likely to be the tip of a much larger ice mountain.

A man called Reinhard Siekaczek, who worked at Siemens for 38 years, faces trial in Germany next year, but he is understood to have blown the whistle on numerous other separate bribes offered to customers.