Siemens scandal
May 30, 2009
The warrant was put out after former financial manager for the Greek branch of Siemens, Christos Karavellas, failed to appear for a scheduled court hearing on Friday.
He was due to answer charges of bribery and money laundering connected with a 1997 deal between Siemens and Hellenic Telecommunications Organization.
His lawyer’s efforts to postpone Karavellas’ testimony on the grounds that his client was in Germany have given rise to concern that the former Siemens official had fled the country to escape the scandal.
Multiple arrests
The former Greek director to the company, Michalis Christoforakos, is already believed to be hiding in Germany following the issue of a warrant for his address earlier this month.
Karavellas’ failure to show up in court on Friday led to the arrest of two more suspects, who are expected to appear before a public prosecutor on Saturday.
A total of six Greek officials have been charged in connection with the scandal which came to light in 2006 and has put Siemens under investigation of bribery and corruption in several countries.
Siemens shares closed Friday at 51.44 euros on the Frankfurt Stock Exchange, down 1.12 euros.
tkw/dpa/AFP/AP
Editor: Nick Amies