November 13, 2015

French power and transportation company Alstom S.A. was sentenced to pay a $772 million fine for violating the Foreign Corrupt Practices Act (FCPA) through its payment of millions of dollars in secret bribes to government officials across the globe.  According to the company’s own admissions, Alstom paid bribes to government officials and falsified books and records in connection with power, grid and transportation projects for state-owned entities around the world, including in Indonesia, Egypt, Saudi Arabia, the Bahamas and Taiwan.  Alstom concealed the bribes by retaining consultants purportedly to provide consulting services but that actually served as conduits for the illegal payments.  In total, Alstom paid more than $75 million in bribes to secure more than $4 billion in projects around the world, with a profit to the company of approximately $300 million.  Whistleblower Insider

Tagged in: FCPA,