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Five Senior Isreal Electric Company Employees Sentenced in Massive Siemens Bribery Case

A Tel Aviv District Court sentenced five former senior employees of the Israel Electric Company who plead guilty to taking millions of shekels of bribes from the German engineering company Siemens.  The five were convicted of taking bribes, fraud, breach of trust, and money laundering from 2001-2002. They were sentenced to terms ranging from 28 to 49 months in a plea deal. The Siemens company admitted to dolling out bribes to ensure the engineering company would win IEC tenders to supply turbines. In May Siemens agreed to pay the Israeli State Treasury NIS 160 million and to have its business in Israel be monitored.