" ITREALMS: Siemens corruption probe: Ex-employee, Lamprecht named in dereliction of duty

Monday, August 04, 2008

Siemens corruption probe: Ex-employee, Lamprecht named in dereliction of duty

The global vice chairman of Nokia Siemens Networks (NSN) stands accused by Siemens, his former employer, of “dereliction of duty” as the German conglomerate and telecoms equipment manufacturer leaves no stone unturned in its ongoing investigation into alleged corruption, reports telecomtv.com.

Thus, NSN’s Rudi Lamprecht was named by Siemens as one of the eleven former executives its pursuing and from whom the company is seeking substantial damages.

The Siemens’ investigation became public knowledge back in late 2006 when, amidst allegations of bribery and other illegal payments valued at more than a billion euros, several senior Siemens staff were arrested in police raids.

The case against Rudi Lamprecht comes as Siemens focuses on former high-ranking staff that, the company says, should have done more to stamp out an insidious culture of corporate corruption that was infecting several of Siemens’ divisions.

Now Siemens is attempting to recover damages from Lamprecht and ten others.

The report said Siemens “bases its claims on breaches of their organisational and supervisory duties in view of the accusations of illegal business practices and extensive bribery that occurred in the course of international business transactions in the years 2003 to 2006 and the resulting financial burdens to the company.”

Lamprecht no longer sits on the Siemens AG board, but retained his directorship on joining Nokia Siemens Networks in October last year.

Back in 2006, German prosecutors said the corruption case involved at least €200 million after initial investigation showed that Siemens employees may have embezzled as much as €20 million euros by diverting the money into numerous illegal off-shore accounts.

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