Prosecutors in Munich raided 15 locations in Germany and Switzerland last week to investigate whether Andreas von Zitzewitz received bribes from a marketing agency between 2002 and 2004.
Evidence reviewed so far "confirms the suspicion of payments," the chief prosecutor said in a statement.
In addition to investigating von Zitzewitz, prosecutors said they were targeting a former Infineon board member, Harald Eggers, and the head of a Swiss marketing company for motorsports.
Under the former Infineon chief executive, Ulrich Schumacher, Infineon sponsored Le Mans races and supplied the Ferrari Formula One team.
Infineon has also sponsored the Jordan Formula One team.
