Bribery Banker On The Run After Breaking Tracking Tag

A Swiss banker charged with money laundering and bribery in connection with an arms procurement programme has gone missing after removing his tracking bracelet.

Swiss-French banker Jean-Claude Oswald, who is facing charges of money laundering and bribery in connection with the Siemens bribery scandal, has removed his tracking bracelet, according to Greece’s Justice Ministry.

Oswald, who appeared in an Athens court where his case was being heard on the day he removed the bracelet, reportedly destroyed the device’s strap and disappeared.

The Greek police have launched a manhunt to capture him.

The suspect is alleged to have played a key role in securing kickbacks in the Siemens bribery scandal surrounding the 2004 Athens Olympics and a series of defence deals including the procurement of submarines.

He had been indicted along with 11 other people in connection with kickbacks allegedly pocketed from the acquisition of self-propelled howitzers manufactured by German firm Krauss-Maffei Wegmann (KMW).

Oswald was extradited to Greece in 2015 following his arrest in Abu Dhabi.

The Siemens bribery scandal in Greece is a corruption and bribery scandal over deals between Germany-based multinational Siemens AG and Greek government officials during the 2004 Summer Olympic Games in Athens regarding security systems and purchases by Greek telecoms company OTE in the 1990s.

It has been claimed that the bribes may have been worth up to 100 million EUR and were allegedly given in order to win state contracts.


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Story By: Anastasia Tsougka,  Sub-Editor: Joseph Golder,  Agency: Central European News

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