In acknowledging his authorization of a $44 million payment to a German labor leader, Wilhelm Schelsky, "I don't want to escape my responsibilities, but I never thought at the time that this agreement with Schelsky would violate laws.'' Via Bloomberg.

-- MDT

Labels: Johannes Feldmayer, Siemens, William Howard

The key figures are names that should be familiar to anyone who has been following the Siemens case Johannes Feldmayer (former Siemens bard member) and Wilhelm Schelsky (former head of the Association of Independent Employees trade union). Feldmayer is accused of going above and beyond to foster good relations with the AUB - tens of millions of dollars above and beyond.

For more on the upcoming trial, which has 100 witnesses lined up already, try the WSJ Law Blog. For more background on the Feldmayer and Schelsky try the tags below. We've got you covered.

Labels: AUB, Johannes Feldmayer, Siemens, Wilhelm Schelsky

Former Siemens executive board member, Johannes Feldmayer allegedly authorized more than $48 million in the service of bettering union relations.

That would do it, I imagine.

The German government, however, has taken a dim view of this action.

Both Feldmayer and AUB union boss, Wilhelm Schelsky have been charged in the Siemens bribery probe on fraud, tax evasion and beach of trust grounds.

Schelsky, for his part, has a back-log of other legal problems to boot.

More on Feldmayer and Schelsky via Blooomberg.

-- MDT

Labels: bribery, Johannes Feldmayer, Siemens, Wilhelm Schelsky

Big backlog of post-baby Siemens news to wade through, but here's a quick hit for your Labor Day reading - Johannes Feldmayer, a member of Siemens management board became the most senior executive yet arrested in the onling transnational briber probe surrounding the company. was detained as prosecutors

Labels: Johannes Feldmayer, Siemens

Wilhelm Schelsky, the former head of the German union, AUB has admitted that he took money from Siemens in exchange for acting as an "undercover lobbyist" for the company.

The comments from Schelsky, which appeared Thursday in a German magazine, would seem to add credence to the lawsuit brought against Siemens by rival union IG Metall which alleged just this type of shenanigans. Schelsky, who has been in police custody since February, reportedly received more than $45 million dollars from Siemens.

The Siemens board member who made the payments to Schelsky, Johannes Feldmayer, was also arrested on charges of conspiracy but has since been released on bond. His ultimate fate, as well as Schelsky's is still unknown, but none of this is particularly good news for Siemens.

-- MDT

Labels: AUB, bribery, IG Metall, Johannes Feldmayer, Siemens, Wilhelm Schelsky

But not out of the woods yet.

-- MDT

Labels: AUB, bribery, IG Metall, Johannes Feldmayer, Siemens

The scandal that felled Johannes Feldmayer has also brought about a new lawsuit against the beleaguered Siemens. Beset by scandal and a high-profile international investigation into its business practices, Siemens can't seem to get (and probably doesn't deserve) a break.

In light of the cozy relationship that has emerged between Siemens and German union AUB, rival tradeunion IG Metall has filed suit against Siemens, alleging that the company sought to undermine IG Metall's status via covert financing of AUB, which is considered to be a much more employer friendly organization.

-- MDT

Labels: AUB, bribery, IG Metall, Johannes Feldmayer, Siemens

So say authorities in Munich, who've done another pass through Siemens offices. Two additional warrants were subsequently issued...

At the time of this writing the names on those warrants are unknown, but Siemens did suspend another employee yesterday (following their suspension of Johannes Feldmayer on Tuesday) and it is assumed that person's name is one one of the warrants. The second warrant is apparently in the name of a former employee who left Siemens late last year.

Could it be that Siemens' former finance chief and a former member of its supervisory board, Karl-Hermann Baumann might be the former employee of interest to authorities? It is known that Baumann has been suspected for some time of having connections to the AUB bribery investigation that felled Mr. Feldmayer. Baumann is already under suspicion for breach of trust in connection with the AUD matter.

Meanwhile, back at Siemens HQ, its sweaty brows and clammy palms all around... What else can you expect when three out of four of your recent candidates for CEO are currently under investigation by highly motivated prosecutors. It tends to case a pall over the company picnic.

-- MDT

Labels: bribery, investigation, Johannes Feldmayer, Karl-Hermann Baumann, Siemens

Johannes Feldmayer, Siemens executive board member, was detained on Tuesday in connection with a probe of bribery accusations concerning the German workers' association AUB (AUB's president has already been cooling his heels in stir for the last month). For more on how the Fledmayer arrest fits into the overal Siemens bribery scandal, check out this article from The Scotsman.

-- MDT

Labels: AUB, bribery, Johannes Feldmayer, Siemens