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Detention and warrant for former Siemens executives

first_imgThe investigation into charges of bribery and money-laundering by German electronics giant Siemens to win a major telecommunications contract reached a crucial juncture last week when two former Siemen Hellas executives were remanded in custody and an international arrest warrant was issued for another.Former Siemens executives Prodromos Mavridis and Emmanouil Stavrianou were in custody following extensive questioning before the Special examining magistrate Nikos Zagorianos in Athens. Both Mavrides and Stavrianou have denied any wrongdoing in the 1997 case, in which prosecutors have also charged other former Siemens Greece staff over alleged bribes for contracts with the Hellenic Telecommunications Organisation (OTE), the then state-controlled telecommunications group. Greek prosecutors also issued an international arrest warrant for former Siemens Hellas CEO Michalis Christoforakos who failed to appear appear before the investigating prosecutors to respond to the charges.His lawyer said that health reasons did not allow him to travel from Munich to Athens. He also submitted a petition seeking a few days’ extension for his appearing before the magistrate, given he had traveled to Munich for the German authorities’ investigation into the Siemens bribery scandal. A third Siemens executive Alexandros Athanassiadis was charged but released following the payment of a bond.The special examining magistrate Nikos Zagorianos is investigating several major contracts signed in 1997 between Siemens and OTE to install digital technology at the latter’s telephone substations.Christoforakos and Mavridis are alleged to have been behind the creation of a slush fund, which were used to bribe politicians and public officials to secure lucrative state contracts.The first seven defendants in the case gave deposition to the Special examining magistrate Nikos Zagorianos. They include six former high-ranking executives of Siemens Hellas, the German multinational’s subsidiary in Greece, and a former OTE top executive. Facebook Twitter: @NeosKosmos Instagramlast_img

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