NEWS

Banker tied to Siemens scandal in Greek custody

A Swiss-French banker wanted in connection with the Siemens cash-for-contracts scandal and a string of allegedly corrupt defense deals is in Greek custody, authorities said Monday.

According to a police statement Monday, a 55-year-old French national faced a Greek magistrate on Sunday following his arrest in the United Arab Emirates on Saturday. The man was wanted for bribery and money laundering, and three European warrants had been issued for his arrest, it said. Greek authorities have long sought the extradition of the suspect, identified in the media as Jean-Claude Oswald, formerly an executive at Dresden Bank and BNP Paribas. But authorities in Switzerland, his official residence, had rebuffed Greek requests for his extradition.

The suspect is alleged to have played a key role in securing kickbacks in the Siemens bribery scandal and a series of defense deals including the procurement of submarines. He is expected to face investigating magistrate Nikos Tsironis in the coming days after being granted additional time to prepare his defense.