Siemens ex-managers charged with corruption

23rd March 2006, Comments 0 comments

23 March 2006, FRANKFURT - Two former Siemens managers have been charged with bribery in connection with the supply of power plant equipment to Italy, prosecutors said Thursday.

23 March 2006

FRANKFURT - Two former Siemens managers have been charged with bribery in connection with the supply of power plant equipment to Italy, prosecutors said Thursday.

The men aged 62 and 72 are accused of paying more than 6 million euros (7.2 million dollars) in bribes to two executives of the Italian utilities company ENEL.

Prosecutors said the two men had access to a slush fund of 12 million Swiss francs out of which the money was paid to the Italians via bank accounts of different firms and foundations in Liechtenstein, Dubai and Abu Dhabi.

Three other men are under investigation in Germany, while prosecutors in Milan are dealing with the case of the ENEL executives.

The case involves a 450-million-euros contract for the supply of gas turbines, ancillary equipment and maintenance which Siemens won with partner firm Ansaldo.

No date has been set for the trial.

DPA

Subject: German news

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