Former Siemens execs fined for corruption
AFP · 20 Apr 2010, 16:57
Published: 20 Apr 2010 16:57 GMT+02:00
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.