The Guardian reported that a prosecutor confirmed the chief executive’s office was “among those searched”, but that “Mr Kleinfeld was a witness, not a suspect, in the case”.

Der Spiegel reported that Munich prosecutors are investigating “a total of ten Siemens employees, plus two acquaintances who were not Siemens workers”. They are alleged to have diverted company funds “to front companies and bank accounts in Switzerland and Liechtenstein”, wrote Der Spiegel.

According to Deutsche Welle, “Prosecutors are investigating whether the money was part of a slush fund used to bribe overseas contractors to place orders, including a contract for security systems at the 2004 Olympic Games in Athens”.

Mr Kleinfeld has, according to The Times, “pledged to punish corrupt employees”, his company promising to set up “a special anti-corruption taskforce”.