Prosecutor says suspect in EU graft probe to cooperate

STORY: The prosecutor said in a statement Panzeri signed a "repentance agreement", where he commits to make "substantial, revealing, truthful and complete statements" about parties involved, and crimes committed, in the case.

In particular, he will inform investigators about how the operations were conducted, the financial arrangements with other involved countries, the financial structures that were set up, including their stakeholders and benefits, the involvement of known and unknown people within the investigation, including the identity of the individuals he admits to having bribed.

His sentence will include prison time, a fine and the confiscation of all assets acquired, estimated at $1.08 million.

Panzeri, Greek EU lawmaker Eva Kaili, along with two others are currently in Belgian custody facing charges of corruption, money laundering in relation to alleged payments from Qatar and Morocco.