Rheinmetall, Atlas Probed for Bribing Greek Officials
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Rheinmetall AG and Atlas Elektronik GmbH, a unit jointly owned by ThyssenKrupp AG and European Aeronautic Defence and Space Co., were raided as part of a German probe into allegations of bribery by employees.
The suspects are being investigated over payments to Greek officials from 1998 to 2011 to win contracts for submarine equipment, Frank Passade, a spokesman for the prosecutors’ office in Bremen, Germany, said in an interview today. Atlas, a naval electronics manufacturer, allegedly paid 8.5 million euros ($11.4 million) in bribes and Dusseldorf-based Rheinmetall, an armored vehicle maker, paid 9.1 million euros, Passade said.