Former Siemens executive arrested in Germany

26/06/2009

BERLIN, Germany -- The former manager of Greek operations for German company Siemens, Michalis Christoforakos, was arrested on Thursday (June 25th) in connection with an ongoing investigation into money laundering and bribery. Prosecutors in Munich confirmed the arrest without elaborating. A local court will now decide whether to comply with an extradition request from Greece, based on an international arrest warrant issued in May. Christoforakos is one of seven former Siemens managers suspected of offering bribes to land lucrative contracts. (Reuters, Nafthemporiki - 25/06/09)

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