U.K. Officials Arrest Three Men on Bribery Charges
Three members of the Alstom board of directors were questioned for involvement in paying overseas bribes.
March 23, 2010 at 08:00 PM
1 minute read
The original version of this story was published on Law.com
The U.K. Serious Fraud Office (SFO) said in a statement that it arrested three men this morning for allegations of bribery, money laundering and false accounting. The three unnamed men were on the Alstom SA's board of directors, and authorities say they have been investigating Alstom's employees and business practices for more than three years.
The SFO alleges Alstom gained contracts in Africa and South America because of bribes they paid overseas. The spokesman for Alstom, Stephane Farhi, denied that the men were arrested, saying that the SFO statement mischaracterizes what happened and that the three directors were only brought in for questioning. Prosecutors have also searched several homes and businesses in London, Staffordshire and a number of other towns to find possible information related to the bribery case.
To read more on this story and case, follow this link: http://www.bloomberg.com/apps/news?pid=20601127&sid=a2.vIYOodI6s
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