Ex-Siemens Executive Wins End to SEC Argentine Bribe Case

A former Siemens AG executive won dismissal of a U.S. regulator’s lawsuit over his alleged role in an Argentine bribery scheme to land a $1 billion contract to make national identity cards.

U.S. District Judge Shira Scheindlin in Manhattan today dismissed the case brought by the Securities and Exchange Commission against Herbert Steffen, a former chief executive officer of Siemens SA Argentina, saying the court lacks jurisdiction over him and that it’s unreasonable for Steffen to have to defend himself in an American court.

via Ex-Siemens Executive Wins End to SEC Argentine Bribe Case – Bloomberg.