A huge fine for the bribes in Greece and Portugal

Regarding a bribe case linked to two former senior executives of Ferrostaal AG and their action in Greece and Portugal between 2000 and 2003, a Munich court proceeded to impose a 140 million fine in the company.
According to a telegraph by the Bloomberg news agency, despite its large amount, the fine does not cease to be a compromise of the company with the prosecution authorities and the court.
The case is about the action of the former director of Ferrostaal Johann Friedrich Chaoun and former lawyer Hans Peter Mouchlenmbeck, who confessed for bribes made ​​to officials in Greece and Portugal to ensure the submarine sales to these countries. It is estimated that only in Greece bribes of approximately 60 million were paid for submarines orders worth of 1.6 billion euros from the Greek Navy.
According to the indictment, the two former managers agreed for the payment of a part of that amount to "decision makers in ministries and authorities". They nominally referred to former defence minister Akis Tsohatzopoulos, who denies the charges.
At the start of the trial on December 15 Ferrostaal had announced that it was ready to pay the fine that was the result of "intense negotiations". The company today announced that it will suffer the consequences and pay the fine. The two company executives were sentenced to two years imprisonment with suspension.

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