Siemens Message Board - Msg: 23414349

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Technology Stocks : Siemens

SI 15.29

+0.8%

12:59 PM EST

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To: 49thMIMOMander who wrote (341)	3/30/2007 12:08:37 AM
From: waitwatchwander	Read Replies (3) of 356

Siemens director arrested Associated Press MUNICH — A board member of Europe's biggest electronics and engineering company Siemens AG was arrested Tuesday in connection with an investigation of alleged payments to the head of a tiny labour union, the company said. Siemens said Johannes Feldmayer was arrested as part of an investigation into payments from the company to the head of the AUB labour organization, Wilhelm Schelsky. A spokeswoman for Munich-based Siemens said Mr. Feldmayer was arrested after investigators raided offices in Munich, Erlangen and Nuremberg. “We don't know the exact reason but it does relate to the AUB affair,” Konstanze Tauber told The Associated Press. “Siemens is cooperating fully with the investigators ... and will continue to do so.” Neither Mr. Feldmayer nor his attorney could immediately be reached for comment. Last month, Mr. Schelsky was arrested in connection with searches at Siemens and AUB. Siemens has said that Mr. Schelsky — a former works council member at the company — had acted as an adviser to Siemens on employee training and other issues, but that his contract with the company had been cancelled at the end of 2006. According to Siemens, Mr. Schelsky had received payments totalling €14-million from the company since 2001. Siemens has been plagued recently by separate corruption allegations, prompting Chief Executive Klaus Kleinfeld to hire an outside anti-corruption expert and a law firm to examine and revise the company's safeguards. theglobeandmail.com

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