Alstom SA, a French power and transportation company, will pay a record $772.3 million to settle U.S. claims that it paid tens of millions of dollars in bribes to government officials around the world, the U.S. Justice Department said yesterday, reports Corporate Counsel. It was the highest amount DOJ has ever secured to end a Foreign Corrupt Practices Act investigation.
The company pleaded guilty to FCPA charges as part of the deal to resolve the matter. The company didn’t have strong internal controls to discourage graft and falsified records connected to a scheme to bribe officials in the Bahamas, Egypt, Indonesia, Saudi Arabia and Taiwan for more than 10 years, prosecutors said. Leslie Caldwell, the assistant attorney general in charge of the Criminal Division, said the case against Alstom is “emblematic” of the department's fight against corporate corruption.