Granted, it happened in late 2008.
The “it” is the Siemens Foreign Corrupt Practices Act enforcement action in which the U.S. government stated, among other things, that “for much of its operations across the globe, bribery was nothing less than standard operating procedure for Siemens” and that the “pattern of bribery by Siemens was unprecedented in scale and geographic reach.”
According to the U.S. government, Siemens’ conduct was “egregious,” “staggering,” “brazen,” and “systematic;” and that there existed a “corporate culture in which bribery was tolerated and even rewarded at the highest levels of the company.”
In 2008, Siemens resolved parallel DOJ/SEC FCPA enforcement actions by agreeing to pay $800 million (still the largest FCPA settlement amount of all-time – see here for the current top ten list).
Although approximately 7.5 years have passed since 2008, the Siemens FCPA enforcement action remains an active issue for the U.S. government. Indeed, as highlighted in this recent post, the DOJ is seeking to block release of the Siemens’ Monitor Reports.