Siemens execs get suspended sentence for corruption

20th April 2010, Comments 0 comments

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 euros (81,000 dollars). The court in the southern city of Munich also ordered him to pay 100,000 euros 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 euros 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 euros was paid out in bribes between 2000 and 2006, making it the biggest scandal in corporate German history.

© 2010 AFP

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