Slush funds: Conclusion of the Swiss Siemens complex of proceedings
Bern, 12.11.2013 - The Office of the Attorney General of Switzerland (OAG) has closed the Siemens case concerning the telecommunications sector. The focus of this complex of proceedings was the setting up and operation of "slush funds" at banks in Switzerland. The investigations into former employees of Siemens and fiduciaries working in Switzerland were concluded following the payment of reparation in the form of donations to charitable institutions or by issuing a summary penalty order. At the same time, criminal assets valued at 60 million Swiss francs were forfeited.