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Siemens German Offices Raided in Fraud Probe

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BERLIN, Nov. 15, 2006 -- Offices of German engineering and electronics giant Siemens and the apartments of some of its top managers were raided Wednesday in a huge embezzlement probe. In a press release posted on its Web site, Siemens said police and prosecutors searched about 30 Siemens locations in Munich and Erlangen and that "a still undetermined number of individual acts of fraud are suspected at the company's fixed-network business." At issue, Siemens said, "is an amount in the low double-digit million euro range. A total of six former and current company employees are suspected in the case. Siemens is a...Read full article

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    Published: November 2006
    Glossary
    photonics
    The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
    siemens
    The electric conductance of a conductor in which a current of 1 ampere is produced by an electric potential difference of 1 volt.
    BenQ Mobilebribes to win contractsembezzlementEmploymentEnelforeign bank accountsfraudNews & FeaturesphotonicsSiemensSiemens employees

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