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Corrupt submarine deals

Munich – Two former top managers of Ferrostaal have received a suspended sentence. They confessed to have bribed clients in Greece in 2000 and three years later in Portugal with 62 million euro in order to receive profitable submarine deals. The Federal State Court in Munich ruled that the former member of the managing board Johann-Friedrich Haun and his erstwhile general manager were sentenced to two years of probation and to a fine of 36,000 and 18,000 euro respectively. The corporation Ferrostaal was also arraigned and fined with an amount of around 140 million euro.

For further information, please refer to spiegel-online, 20. Dezember 2011, 16:56 (only available in German).