Siemens is working with Austrian authorities in an investigation into allegations of corruption regarding hospital building contracts. The prosecutor's office in Feldkirch stated that several individuals are being investigated for serious fraud, with the amounts involved estimated to be less than 10 million euros.
is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts.
Siemens said the investigation was based on information the company had provided to the public prosecutor's office in the course of an ongoing compliance investigation. Austrian prosecutors said that five people had been arrested as part of the investigation, with several house searches taking place last week.German newspaper Die Welt on Tuesday said the alleged fraud concerned a "criminal system" in which suspects used forged documents to enrich themselves.
The operating company, known as Vorarlberger KHBG, said it believed it was one of been of several companies affected by the alleged fraud.
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