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US fines Alstom record $772 mn in bribery case

Alstom admitted to bribing officials to win power and transportation projects from state-owned entities around the worldFrench industrial giant Alstom will plead guilty and pay a record $772.3 million penalty in a wide-ranging foreign bribery case, the US Justice Department announced Monday. Alstom admitted to bribing officials to win power and transportation projects from state-owned entities around the world, including the Bahamas, Egypt, Indonesia, Saudi Arabia and Taiwan. In total, Alstom paid more than $75 million in bribes to secure $4 billion in projects around the world with a profit of approximately $300 million, US prosecutors said. “Alstom’s corruption scheme was sustained over more than a decade and across several continents,” said Deputy Attorney General James Cole.

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