Former Siemens Exec Arrested In Germany

Michael Christoforakos, a former senior executive of Siemens in Greece who faces money laundering and bribery charges, has been arrested in Germany.

MUNICH (AP) -- A former senior executive of industrial conglomerate Siemens AG in Greece who faces money laundering and bribery charges in his homeland has been arrested in Germany, prosecutors said Thursday.

Alfons Obermeier, a spokesman for Munich prosecutors, confirmed the arrest of Greek citizen Michael Christoforakos, but gave no details.

Christoforakos' lawyers, Stefan Kursawe and Daniel Peter, said their client was arrested in Rosenheim, southeast of Munich, on Thursday morning.

Christoforakos is one of seven former Siemens executives targeted in Greek prosecutors' investigation of a 1990s contract that Siemens won with Greece's dominant telecom operator, OTE, which was state-owned at the time.

One former OTE executive has also been charged. All deny wrongdoing.

According to the charges in that case, former Siemens officials paid some euro57 million ($80 million) in kickbacks to secure the deal with OTE.

Three of the suspects in the case have been jailed in Greece pending trial.

More in Home