COURT OF APPEAL CLEARS FORMER SIEMENS AND O.T.E. EXECUTIVES

 

Following a multi month hearing the Five-Member Court of Appeal Athens handed down its judgment on 26.9.2022 quashing multiyear convictions of former executives and employees of Siemens AG, its Greek subsidiary, and of Hellenic Telecommunications Organisation (OTE) on bribery and money laundering charges in relation to contracts acquired by Siemens Hellas in the late 90’s.

The highly publicized acquittal of the defendants was partly on the merits absent specific evidence of bribery and partly on prescription grounds.

Ilias Anagnostopoulos and Ioannis Tolakis advised and represented a former Siemens AG CEO and an Ex-CFO of OTE. The Appeal Court held that the charges were baseless against both defendants, who had been convicted in 2019 to 13 and 14 years prison sentences respectively by the Court of First Instance but were released on bail pending their appeal.

Ilias Anagnostopoulos said: “We are delighted with the outcome of the trial. The Court of Appeal remedied what would otherwise have been a worrying example of gross injustice towards two innocent individuals“.