Siemens Message Board - Msg: 23123855

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Technology Stocks : Siemens

SI 15.29

+0.8%

12:59 PM EST

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From: zbyslaw owczarczyk	12/22/2006 9:52:54 AM
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Siemens Corruption Suspects Agree to co-operate Six current or former Siemens employees, including the ex-head of its telecommunications equipment unit, Thomas Ganswindt, were detained after Munich prosecutors ordered raids on company's offices across Germany in November. Investigators accuse the six of committing breach of trust against Siemens in cases stretching back to 2002 by setting up secret funds outside Germany. Siemens said it identified suspicious payments involving some 420 million euros (about $550 million). Munich prosecutors said Friday that five suspects were released after agreeing to unspecified conditions. biz.yahoo.com

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