Atlas Elektronik and Rheinmetall Defence Electronics were raided by German authorities this week. Both were firms were suspected of paying bribes in relation to a submarine equipment order from Greece. Atlas Elektronik was a joint venture of Netherlands-based European Aeronautic Defence and Space Company (EADS) and German firm Thyssenkrupp.
A spokesman for the state prosecutor confirmed a report about the raid written in the German newspaper Sueddeutsche Zeitung. The spokesman said the two firms were searched as they were suspected of giving EUR 18 million or USD 24 million in bribes for the submarine order. They were also suspected of avoiding taxes.
EADS and ThyssenKrupp acknowledged that the raid occurred in the unit that they had purchased from BAE Systems, a London-based global defence, aerospace and security company. ThyssenKrupp also said it had already found out about the bribery when it conducted a compliance investigation. The German firm also said they had told the authorities about it in 2010.
Join the Conversation