The SEC Is Issuing An Odd Summons To Ex-Siemens Execs Accused Of Bribery

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Photo: surber/Flickr

The Securities and Exchange Commission is using a newspaper ad to summons four ex-Siemens AG executives on charges that they paid bribes to obtain a coveted contract with Argentina.A judge is letting the SEC place the ad in the International Herald Tribune in Germany because the agency claimed it couldn’t reach the execs by usual legal means, the Wall Street Journal reported Wednesday.

The four men — Ulrich Bock, Uriel Sharef, Stefan Signer, and Herbert Steffen — are accused of agreeing to pay more than $100 million in bribes to score a government contract in Argentina.

The SEC initially tried to grab the men through the Hague Convention but the German government refused to cooperate, claiming the violations aren’t a civil or commercial matter under German law.

So the SEC took to the media, placing the ad, which informs the men they have 20 days to show up to federal court in Manhattan, or they risk a default judgment, WSJ reported.

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