NEWS

German firm tried to reach deal on arms bribes in July

german-firm-tried-to-reach-deal-on-arms-bribes-in-july

Representatives from German giant Rheinmetall met with Greek Defense Ministry officials at the end of July to discuss the possibility of an out-of-court settlement relating to the case against the company over alleged bribes.

The German firm made the move after reaching a similar arrangement with German authorities after Rheinmetall employees admitted the payment of bribes. In December, the defense and auto parts firm said it was to pay a fine of 37.1 million euros.

The company has admitted that its middleman in Greece, Panos Efstathiou, paid bribes of around 10 million euros to Greek officials in connection to the sale of the ASRAD anti-aircraft system, a contract that was worth some 160 million euros.

Rheinmetall has also admitted to paying a 127-million-euro bribe to Greek officials to secure the sale of 353 Leopard 2 battle tanks in a deal completed in 2009.

The talks at the end of this July were inconclusive.