Siemens confirms corruption case in Kuwait

Reuters

MUNICH/FRANKFURT (Reuters) - Siemens said it had discovered evidence of corruption at its business in Kuwait and had involved authorities.

"We uncovered the case ourselves, involved the authorities and took disciplinary measures," a spokesman for the company said on Friday.

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German daily newspaper Financial Times Deutschland earlier cited a senior prosecutor in Munich as saying arrests had been made in connection with a fresh investigation at Siemens.

The paper cited judicial sources as saying at least two managers had been arrested, and an arrest warrant has been issued for a third manager who had worked in Kuwait.

The prosecution in Munich was not immediately available for comment.

Siemens was embroiled in Germany's biggest post-war corporate corruption scandal that started in 2006, culminating in about 1 billion euros ($1.46 billion) in fines and penalties and the departure of its chairman and chief executive.

"One-off cases can never be ruled out, but we can rule out systematic misconduct," the spokesman for Siemens said.

Shares of Siemens were 0.2 percent lower at 91.04 euros by 3:14 a.m. EDT, in line with Germany's blue-chip index <.GDAXI>.

(Reporting by Andreas Kroener and Josie Cox; Additional reporting by Patricia Gugau; Editing by Hans Peters)

($1=.6846 Euro)

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