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64 to Stand Trial As Part Of Siemens Contracts Allegations

23 March 2015

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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