Swiss authorities have made an arrest in a corruption scandal allegedly centring on German chip maker Infineon and its sponsorship of motor sport racing events.
Police arrested Udo Schneider, an executive at PR firm BF-Consulting, in late August. Pending extradition to Germany, the executive is being held in Switzerland.
Schneider allegedly paid Infineon executives more than €300,000 in bribes to have the company sponsor racing events.
Amid a probe into the corruption allegations, German authorities last July raided Infineon's offices and the homes of two of the company's senior executives.
Infineon itself is not being investigated, but is still affected by the affair. The resignation of board member Dr Andreas von Zitzewitz earlier this year allegedly caused the company to cancel a planned but unannounced initial public flotation of its memory chip division.
Bavarian Chief Prosecuter Anton Winkler confirmed the arrest to German newspaper Der Spiegel.
Infineon's core business is memory chips, but the company also makes controller chips for cars.
The firm is the official chip provider for the Ferrari Formula 1 racing team, and is the name sponsor for the Team Abt Sportsline of Audi race cars in Europe. It also owns the naming rights for the Infineon Raceway north of San Francisco.
Dr Kuan Hon criticises GDPR consent emails that will only eviscerate marketing databases and 'media misinformation'
Apple squashes Steam Link app on 'business conflicts' grounds
Philip Hammond wants to forget rules that the UK agreed with the EU to ban non-European companies from the satellites
Instapaper to 'go dark' in Europe until it can work out GDPR compliance