News / Foreign Policy

US judge fines France’s Alstom $772.3 million

Saturday, 14 November 2015 2:09 AM [ Last Update: Saturday, 14 November 2015 2:05 AM ]

"Alstom paid more than $75 million to secure more than $4 billion in projects around the world, with a profit to the company of approximately $300 million," the US Justice Department said.

The United States has fined the French industrial company Alstom SA $772.3 million over bribery charges, accusing the energy and transport giant of bribing government officials of other countries.

A federal judge in Connecticut on Friday sentenced the company to pay what is believed to be the largest levied by the US government in a foreign bribery case after Alstom pleaded guilty nearly a year ago for bribing officials in Egypt, Indonesia, Saudi Arabia, Taiwan and a number of other countries.

US District Judge Janet Bond Arterton’s ruling followed Alstom's plea on Dec. 22, 2014, to charges it failed to comply with the federal Foreign Corrupt Practices Act ("FCPA") through falsifying its books and records, and not implementing adequate internal controls.

"In total, Alstom paid more than $75 million to secure more than $4 billion in projects around the world, with a profit to the company of approximately $300 million," the US Justice Department said in a statement.

The US said it imposed such a high fine for the company did not cooperate with its investigation for several years, and also because of "Alstom's prior criminal misconduct, including conduct that led to resolutions with various other governments and the World Bank."

In Indonesia alone, Alstom bribed high-level officials to win $375 million in contracts with the government electricity company PLN.

The Justice Department has also charged four executives from Alstom who had a hand in the bribery scheme. All of the three individuals have pleaded guilty.

The fourth person, named Lawrence Hoskins, who was a senior vice president for the Asia region in the past, will be tried before Arterton on April 18, 2016.

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.co.uk