Internal probe at Siemens confirms corruption and cover-ups at all levels of management - je 30.04.2008 12

Well, it's not looking good for Germany's engineering giant Siemens. The company has reported a 67-percent slump in its second quarter net profit, which fell to 412-Million euros. Added to that is a damaging report from a probe into corruption claims at the group. An independent panel has found evidence of bribery and cover-ups at all management levels -- both in Siemens' domestic and foreign operations.