The German offices of Rheinmetall AG and Atlas Elektronik were raided last week as part of an investigation into allegations their employees bribed Greek officials to win contracts, according to published reports.
Unnamed employees of the companies are being investigated for alleged payments to Greek officials in order to win submarine equipment contracts between 1998 and 2011, a spokesman for the prosecutor’s office in Bremen, Germany, told Bloomberg News in an interview. The prosecutor, Frank Passade, told Bloomberg that Atlas is being investigated for allegedly paying €8.5 million in bribes during that time period. Atlas Elektronik, which makes naval electronics, is a joint venture between ThyssenKrupp AG and European Aeronautic Defence and Space Co. (EADS)
