French Alstom to pay USD772.3m fine on bribery
Date
12/23/2014 4:32:52 AM
(MENAFN) French power and transportation firm Alstom is set to pay USD772.3 million fine and plead guilty to settle US criminal charges of bribes, The Peninsula Qatar reported.
Alstom tried to conceal tens of millions of dollars in bribes, using code names such as "Mr. Paris" and "Quiet Man", pretending that the consultants it hired were legitimate.
In fact, they were hired to bribe officials in Indonesia, Saudi Arabia, Egypt and the Bahamas, in an 11-year scheme and involved paying more than USD75 million to secure USD4 billion in projects.
Alstom's Swiss unit also pleaded guilty to criminal charges of conspiracy to violate federal bribery laws, while Alstom's US power units each entered into deferred prosecution agreements and admitted to conspiring.
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