German prosecutors in Munich have said there is not enough evidence to warrant launching criminal proceeding against former Siemens CEO and supervisory board director Heinrich von Pierer.
But Von Pierer and other former board members will face misdemeanor charges for alleged negligence. Siemens corruption scandal deepens ...
Ex-Siemens chief fingered in corruption probe ...
Jung: Germany Remains Vital to NATO's Afghan Mission ... The current superivisory board is not affected by Friday's decision. The group has acknowledged the existence of special funds worth 1.3 billion euros which were used to illicitly obtain foreign contracts. The electronics giant agreed last October to pay a fine of 201 million euros to put an end to some German legal proceedings and has also incurred compliance costs of around 1.8 billion euros.
(Deutsche Welle)
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