A Greek appeals court on Tuesday convicted over 20 people of money laundering in a long-running corruption case implicating Germany's Siemens group. Bavaria-based Siemens, whose links to Greece go back to the 19th century, had been suspected of greasing the palms of various officials to clinch one of the country's most lucrative contracts - a vast upgrade of the Greek telephone network in the late 1990s.
The court announced 22 convictions in the case, including fugitive former Siemens executives and bankers. Their sentences will be read out Friday. Most of the 54 defendants were acquitted as the statute of limitations, the period of time during which their alleged crimes could be prosecuted, had lapsed.
Those convicted include the former head of Siemens in Greece, Michalis Christoforakos, who fled to Germany over a decade ago. His deputy, Christos Karavellas, is likewise on the run. The trial began in 2015, but the original investigation began over a decade ago. Ten defendants have since died.
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