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REUTERS: Alstom says fined for negligence in Swiss bribery probe PDF Print E-mail
Written by Ratna Devi   
Thursday, 24 November 2011 00:36

PARIS | Tue Nov 22, 2011 4:57am EST

Nov 22 (Reuters) - Swiss authorities fined Alstom for corporate negligence but the corruption probe confirmed the absence of any bribery system at the French power and engineering group, Alstom said on Tuesday.

 

The Swiss Office Of attorney General was trying to determine whether the Alstom Group and some of its units had violated rules prohibiting the payment of foreign civil servants to unlawfully win commercial contracts.

The investigation, which opened in October 2007 and closed on November 22, has concluded the absence "of any system or so called slush funds used for bribery of civil servants to illegaly obtain contracts", the Alstom statement said.

The office identified three cases in which it concluded that improper payments were made to civil servants in Latvia, Malaysia and Tunisia.

"In two out of these three cases, Alstom itself would appear to be a victim of the actions of some of its employees, who would have benefited from kickbacks, 'enriching themselves at the expense of the company'."

In the third one, Alstom was a subcontractor of a consortium.

The Attorney General has sanctioned the company for corporate negligence in these three cases, imposing a fine of 2.5 million Swiss francs ($2.72 million), to which is added the payment of around 36 million Swiss francs, corrresponding to the estimated profits.

Alstom said it will not challenge the decision and that the investigation was closed.

($1 = 0.9184 Swiss francs) (Reporting by Dominique Vidalon)

 

Last Updated on Thursday, 24 November 2011 00:43
 

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