French power and transportation company Alstom was ordered on Friday to pay more than $772 million to resolve allegations that it violated the US Foreign Corrupt Practices Act.
According to the Justice Department, Alstom paid $75 million in secret bribes to government officials in countries around the world, including Indonesia, Saudi Arabia, Egypt, the Bahamas and Taiwan. They were also accused of falsifying books and records in connection with power, grid and transportation projects for state-owned entities in these countries.
Alstom’s Swiss subsidiary, Alstom Network Schweiz AG, which pleaded guilty last December to conspiracy to violate the anti-bribery provisions of the FCPA, was also sentenced.
The sentence is the largest criminal fine ever imposed in an FCPA case.
Read more here: reuters.com
Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our weekly newsletter.