Siemens’ troubles reached the highest executive level on Tuesday as the first sitting management board member at Europe’s largest engineering group was arrested by prosecutors on charges of breach of trust.
Johannes Feldmayer, seen in the past as a potential chief executive of the German group, is being held in connection with an investigation by Nuremburg prosecutors into whether Siemens illegally financed a friendlier rival to its main trade union. Prosecutors also raided Siemens offices throughout Germany for a second time over the affair.
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