Thursday, February 18, 2010

Lord of the slush fund admits



Munich - In the first trial for the bribery scandal at Siemens an impeached ex-manager filed a confession.
Reinhard Siekaczek (57) admitted before the Munich court that he had diverted more than slush funds around 53 million euros for bribes.
At the same time the former employees of Siemens' ICN division charged former boss: "The entire divisional board was of course aware that this activity was done by me." The indictment alleges that his disloyalty in 58 cases.
With another major culprit Siekaczek, who had started in the 60s as an apprentice at Siemens built a web of front companies had to, flowed over the bribes in connection with telecommunications projects - including at the Olympic Games in Athens -.
Signatures have been made on stickers that had the case of an investigation can be removed. He and his boss were, however, been agreed that the payments should be set long. This was not immediately possible as "dangerous to some people living in certain countries, if they have not kept their promises."
Siekaczek said he himself had received no bonus payments. In the biggest corruption scandal in German history is about dubious payments totaling € 1.3 billion. Determined to be around 300 suspects.