Former Deutsche Post CEO Klaus Zumwinkel has been found guilty of tax evasion by a German court and been given a two-year suspended jail sentence. He was also fined €1.3m.
He admitted at the trial last week that he had evaded about €970,000 in taxes by depositing money in a foundation in Lichtenstein without declaring the proceeds as income. He told the court: "I am guilty of what I am accused. My career had a bitter end. My job was my life."
Presiding judge Wolfgang Mittrup said Zumwinkel had "knowingly, meticulously, enduringly and criminally evaded taxes".
Zumwinkel's home was raided by tax investigators in February last year.