The fine relates to bribes of $75m which were paid to government officials in different parts of the world. Alstom pleaded guilty to falsifying books and records as well as to having inadequate controls which allowed bribes to be paid in Indonesia, Saudi Arabia, Egypt, Taiwan and the Bahamas.
Old Friend
The company had tried to conceal the payment of bribes by going through 'consultants' - who were given code names such as 'Mr Geneva' and 'Old Friend' - to hand over the money to the governmennt officials. Source: Financial Times
Email your news and story ideas to: [email protected]
