A German court has fined Siemens €201 million ($284.1 million) for dubious payments and tax violations, reports The Wall Street Journal. .

"Today's decisions are important steps in clarifying and coming to terms with the misconduct which occurred in the past. Siemens accepts full responsibility in this matter. We have no tolerance for illegal conduct, and we respond to violations with clear consequences. We will continue to strengthen Compliance as a key element of Siemens' corporate and leadership culture," said Siemens President and CEO Peter Löscher in the company statement.

Nice try, but does this draw a line in the sand? Hardly.

With the number of suspicious transactions rising to about €1.6 billion ($US2.26 billion), this case of appalling bribery is not going away. The European law enforcement agency, the U.S. Department of Justice and the Securities and Exchange Commission for corruption are all investigating. And the NYSE-listed company could incur significant penalties from the US or even be prevented from bidding for certain contracts as a result of the SEC investigation.

So while the German court case might be "important steps in clarifying and coming to terms with the misconduct'', as Löscher puts it, this case is not over yet.