Siemens ex-CFO named in bribery probe

Telco contracts under microscope

By John Oates • Get more from this author

Posted in Financial News, 15th January 2007 12:36 GMT

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Another senior figure at Siemens AG has been named as a suspect in the ongoing investigation into allegations of bribery at the industrial giant.

Former chief finance officer Heinz-Joachim Neuburger was interviewed by investigators last week and is now considered a suspect. Neuburger has previously denied any involvement in the scandal. He left the company in May 2006.

A senior Munich public prosecutor told Reuters that Neuburger had been questioned earlier in the week and was considered a suspect. More here.

Six people have already been arrested and over 30 addresses raided in a trawl for evidence. The former boss of Siemens' telco division was arrested in December. The company is suspected of paying bribes in order to win overseas telcoms contracts.

Siemens has highlighted some €420m (£276.5m) in dodgy payments - twice as much as police were originally investigating. ®

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