Ex-Siemens exec charged in scandal

Source: Agencies | June 15, 2009, Monday |

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GERMAN prosecutors have charged a former top-ranking Siemens AG manager with breach of trust for his alleged role in a widespread corruption scandal at the Munich-based industrial conglomerate, an official said on Saturday.

Charges had been brought against the ex-head of finance for Siemens' communications branch, Michael Kutschenreuter, said Anton Winkler, a spokesman for Munich prosecutors.

Two other former employees in the branch had also been charged with assisting breach of trust, Winkler said. He did not identify them.

Siemens, which makes everything from trains to light bulbs, was first rocked by claims of corruption in 2006. Evidence began to surface in 2007 and the company has since acknowledged dubious payments to secure business around the world of up to 1.3 billion euros (US$1.82 billion).

Siemens said in December that it had spent some 2.5 billion euros in total in dealing with the corruption scandal.

Economy

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Ex-Siemens exec charged in scandal

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