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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.