German prosecutors charge ex-Siemens manager, 2 others in corruption case

August 26th, 2009 Siemens buys majority in 2 Chinese metal companiesFRANKFURT — German industrial conglomerate Siemens AG said Wednesday it bought a majority stake in two small Chinese metal companies, but did not release financial details. Munich-based Siemens said its energy division acquired the majority holding in Yangtze Delta Manufacturing, a metalworking company, and aluminum foundry GIS Steel & Aluminum Products, both of which are headquartered in Hangzhou.

July 30th, 2009 Siemens 3Q net profit euro1.3 billion, down 7 percentFRANKFURT — German industrial conglomerate Siemens AG said Thursday its net profit for its fiscal third quarter fell 7 percent as the global recession curbed demand for its products which range from light bulbs to high-speed trains. The Munich-based company said net profit in the April-June period fell to euro1.3 billion ($1.8 billion) from euro1.4 billion in the year-ago quarter.

July 30th, 2009 Siemens Q3 net profit euro1.3 billion, down 7 percentFRANKFURT — German industrial conglomerate Siemens AG said Thursday that net profit for its fiscal third quarter fell 7 percent as the global recession curbed demand for its products, which range from light bulbs to high-speed trains. The Munich-based company said net profit in the April-June period fell to euro1.3 billion ($1.8 billion) from euro1.4 billion in the year-ago quarter.

July 13th, 2009 Prosecutors formally charge DemjanjukMUNICH — German prosecutors have formally charged John Demjanjuk with 27,900 counts of being an accessory to murder. Munich prosecutors say in a brief statement that the charges were filed on Monday.

July 2nd, 2009 Germany's Siemens to pay euro75M to combat corruptionMUNICH — German industrial conglomerate Siemens AG said Thursday it has agreed to pay euro75 million over 15 years to help bolster international anti-corruption efforts and to refrain from bidding for contracts under World Bank-financed projects until 2011. The Munich-based company said it agreed to pay the money — euro5 million ($7 million) annually for 15 years — to the United Nations and Transparency International as part of an agreement with the Washington-based World Bank, calling it part of its "ongoing efforts to address the consequences of the bribery scandal." Siemens, which makes products ranging from wind turbines to trams, has been embroiled in a far-reaching corruption scandal and has acknowledged making dubious payments to secure business.

July 1st, 2009 Former Greek Siemens exec ordered held in GermanyMUNICH — A German court said Wednesday it has ordered that a former head of Siemens AG's Greek branch be kept in custody pending a decision on his possible extradition to face money laundering and bribery charges. Michael Christoforakos, who holds both Greek and German citizenship, was arrested in Bavaria last week on a Greek-issued European warrant.

June 29th, 2009 Siemens names new US operations leaderNEW YORK — Industrial conglomerate Siemens AG said Monday Michael Reitermann will lead the company's U.S. organization.

June 25th, 2009 Greek ex-Siemens executive arrested in GermanyMUNICH — A former senior executive of industrial conglomerate Siemens AG who faces money laundering and bribery charges in Greece was arrested in Germany on Thursday, prosecutors said. Michael Christoforakos, who holds both Greek and German citizenship, was arrested near Rosenheim, southeast of Munich, following a tip-off from the public, Munich prosecutors said in a statement.

June 22nd, 2009 Siemens hopes for $20.9 billion in stimulus ordersFRANKFURT — German industrial conglomerate Siemens AG said Monday that it expects to garner about euro15 billion ($20.9 billion) worldwide in new orders because of more government-backed orders aimed at reducing energy consumption. Siemens said that the efforts by governments, including the U.S., to parcel out stimulus money to jolt economies back to life — much of it earmarked for infrastructure projects emphasizing "green" technology — would lift its order books from 2010 to 2012.

June 5th, 2009 A glance at corruption scandals in GreeceATHENS, Greece — Greece's conservative government has weathered a series of political and corruption scandals despite a wafer-thin majority in parliament: 2009: — Former executives of German industrial giant Siemens are charged with corruption over contracts with a state telecoms company in the 1990s. Governing conservatives reject parliamentary probe.

June 5th, 2009 Siemens AG bribery scandal grips GreeceATHENS, Greece — Greeks pride themselves on having invented European drama. And their mushrooming scandal over alleged bribery by Siemens AG officials has plenty of it.

May 11th, 2009 More than 100 investigated in MAN bribery probeBERLIN — More than 100 people are under investigation in a probe of alleged bribery at German truck maker MAN AG, and two were arrested last week, prosecutors said Monday. Munich prosecutors, who launched the investigation and searched the company's offices last week, said they suspect that a "system to boost sales of trucks and buses" was in place in Germany.

May 5th, 2009 Prosecutors allege bribery at German truck makerBERLIN — Munich prosecutors opened a corruption and bribery investigation against MAN AG on Tuesday and searched the truck maker's offices across Germany. Lead prosecutor Manfred Noetzel said the company is suspected of paying millions in bribes in exchange for deals to sell and lease its trucks and buses.

April 23rd, 2009 Defense investigators raid Siemens Medical in Pa.PHILADELPHIA — Criminal investigators with the Defense Department searched the headquarters of Siemens Medical Solutions USA on Wednesday in connection with a government contract, weeks after the firm won a $267 million medical-imaging contract. Agents of the Defense Criminal Investigative Service arrived at the sprawling complex in Malvern, near Philadelphia, in the morning and were still onsite hours later.

March 21st, 2009 MUNICH - China has ordered 100 high-speed trains from German engineering giant Siemens and its Chinese partners, the company announced in Munich Friday. Siemens will supply components worth 750 million euros ($1 billion) for the Velaro trains, which will be assembled in China and used on the Beijing-Shanghai route from 2010.