Greek Siemens suspect reportedly confessed to corruption charges

Munich - The former director of industrial giant Siemens AG in Greece, Michalis Christoforakos, has apparently confessed to charges of bribery, German media reported Saturday. The Greek manager, on remand in a Munich prison, reportedly described payoffs made by Siemens to secure a large contract for the Athens Olympics in 2004, according to German daily Sueddeutsche Zeitung (SZ) and weekly Spiegel news magazine. Christoforakos, who holds a German passport, reportedly denied claims that he was personally involved in bribery payments for a 500 million-euro deal with Hellenic Telecommunications Organisation (OTE). SZ further reported that Christoforakos had also confessed that sums had been paid to the two leading political parties in Greece, PASOK and the New Democracy Party. Munich's senior prosecutor Anton Winkler... [read full story]                    

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