CHRONOLOGY: Twists in Siemens corruption scandal
FRANKFURT (Reuters) - Munich prosecutors investigating corruption at German engineering group Siemens said on Friday they had found no evidence that would warrant criminal charges against former Chief Executive Heinrich von Pierer.
He and other former company officials are being investigated, however, for the administrative offence of breaching their corporate supervision duties, the prosecutors said in a statement. For a story on the prosecutors statement click on
Following is a chronology of the development of corruption investigations involving Siemens.
2006
November 15 - Prosecutors say they have raided offices and homes of Siemens staff as part of an investigation into suspected embezzlement. Siemens says the probe concerns six individuals and a sum of money in the low double-digit millions of euros. November 20 - Prosecutors say they entered Chief Executive Klaus Kleinfeld's offices. He is considered a potential witness, not a suspect.
November 22 - Munich prosecutors say they are investigating the disappearance of about 200 million euros from Siemens' accounts.
November 23 - Siemens sets up an anti-corruption task force.
December 11 - Siemens cuts its reported 2005/06 net profit by 73 million euros in light of the affair and hires outsiders to examine its compliance systems and rules.
December 12 - Siemens says it is looking into more than 420 million euros worth of dubious payments. Thomas Ganswindt, who used to run Siemens' telecoms business, is arrested.
December 15 - Anti-corruption watchdog Transparency International asks Siemens to leave the organization.
2007
January 3 - A German prosecutor says Siemens is being investigated for possible abuses of the United Nations oil-for-food program in Iraq.
January 12 - Munich prosecutors say ex-CFO Heinz-Joachim Neubuerger has been questioned as a suspect in the bribery investigation.
Jan 25 - Von Pierer withdraws from a Siemens committee examining compliance issues. Continued...


