Alstom fined $772m in US for 'brazen' and 'astounding' foreign bribery schemes
French engineering business hit with record fine in the US over bribery claims in Indonesia, Saudi Arabia and Egypt.
By Alan Tovey | 22 Dec 2014
A record fine of $772m has been imposed on French company Alstom by US authorities to settle allegations the business paid bribes to win contracts.
The company, which makes makes trains and equipment for the power and energy industries, on Monday agreed to pay the penalty following claims it bribed government officials to win contracts in countries including Indonesia, Saudi Arabia and Egypt.
The fine – the largest ever in the US under the Foreign Corrupt Practices Act – came after Alstom agreed to plead guilty to violating internal controls and record-keeping regulations.
According to US prosecutors, Alstom paid a total of $75m in bribes to secure $4bn in projects around the world with a profit of approximately $300m.
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