Germany's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Former Siemens execs fined for corruption

Share this article

Former Siemens execs fined for corruption
Photo: DPA
16:57 CEST+02:00
A court handed two former Siemens executives suspended sentences and hefty fines Tuesday for their part in a corruption scandal that engulfed the German industrial giant in 2006.

Michael Kutschenreuter, 55, received a two-year suspended sentence and a fine of €60,000. The court in the southern city of Munich also ordered him to pay €100,000 to charity.

A former financial director at Siemens' telecommunications division, Kutschenreuter is the most senior executive so far to be found guilty of corruption by a German court in the wake of the scandal.

The other man, Hans-Werner Hartmann, also 55, received an 18-month suspended sentence and was ordered to pay €40,000 to charity.

The pair took part in a wide-ranging bribery scandal whereby executives slipped cash to foreign officials in exchange for landing lucrative contracts.

Some €1.3 billion was paid out in bribes between 2000 and 2006, making it the biggest scandal in corporate German history.

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

Four ways to lower your rent in Germany

It's often expats in Germany who find themselves paying unduly high rent, but that doesn't mean you can't get a better deal - even if you've already signed your tenancy agreement.