64 to Stand Trial As Part Of Siemens Contracts Allegations
Greek authorities have reported that 64 people have been indicted to stand trial in connection with allegations that Siemens paid $76 million to secure contracts.
The accusations follow investigations that the company paid the money to ensure the sale of equipment from Siemens to a Greek telecom operator called OTE.
Joe Kaeser, president and chief executive officer of Siemens, has cast doubt on the value of the prosecutions; which relate to events of 17 years ago. But he admitted that his company had “dark history’’ when it came to compliance issues.
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