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The “Siemens” case

20 August 2009 / 14:08:50  GRReporter
3157 reads

Last news from Germany: Michalis Hristoforakos, former CEO of Siemens Hellas, was hospitalized in a Munich hospital with heart problems.

Michalis Hristoforakos who has Greek and German citizenship got arrested in Bavaria June. His lawyers claim he is innocent and the extraditing appeal has no juridical power. Greek authorities begin investigations on seven former Siemens CEOs. The reason for the investigation was a contract between OTE (the Greek telecommunication agency) and Siemens. It is believed that bribery was used in order to make a contract between the two companies for the creation of security system during the Olympics in 2004.

Besides CEOs from the German concern, former managers from OTE were also investigated. Suspicious payments have been detected to the value of a billion dollars, most of which was illegally transferred abroad and paid in briberies, in Greece including.

From 1996 to 2007 Michalis Hristoforakos was Siemens Hellas CEO and was a defendant in the trial conducted by the Greek court. He has been hiding in Germany for months. GRReporter reminds: Greek authorities issued an international order for his arrest but his extraditing got postponed.

In front of the German court Hristoforakos said that the company has been financing the two most powerful political parties in Greece- the governing New Democracy and the opposing PASOK.

Experts in political life in Athens note that the tension on the country's political scene may lead to preliminary elections. Hristoforakos's attorneys refused to submit information on payments made to the opposing PASOK, thus causing a new series of contradictions. Problems among the attorneys regarding activities on the case are suspected. Government is pessimistic about extraditing Hristoforakos from Germany and it has been three years since the Siemens case is bringing anxiety in Greek social and political life.

Dilyana Ivanova

Tags: Siemens Hellas
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