What’s the story behind this case? To be honest, we’ve got lots of questions and so few answers. This we know: Aluminum Bahrain BSC (“Alba”) sued Alcoa Inc., its long-time raw materials supplier, for corruption and fraud in a Pittsburgh federal court. Alba — majority owned by the government of Bahrain — alleged that it […]
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If, as Alba alleges, Alcoa overcharged it for supply contracts by $2 billion, and some or all of the money went into offshore accounts controlled by Alcoa’s agent and was used to bribe Alba’s personnel and other Bahraini government officials, then the focus of the U.S. government’s criminal investigation will be on whether anyone from […]
An Australian joint venture partner of Alcoa said this week that possible FCPA settlements with the DOJ and SEC for alleged bribes to officials of Bahrain’s Alba could amount to more than $300 million.
A unit of Alcoa agreed to plead guilty Thursday in the Western District of Pennsylvania to one count of violating the anti-bribery provisions of the FCPA with a 2004 corrupt transaction. Alcoa World Alumina LLC, a majority-owned subsidiary, will pay a criminal fine of $209 million and forfeit $14 million to settle the DOJ’s charges. Alcoa Inc., the corporate parent, also agreed to resolve civil charges brought by the Securities and Exchange Commission by disgorging $161 million.
The U.S. Justice Department has opened a criminal investigation into allegations that Alcoa Inc. violated the Foreign Corrupt Practices Act and other laws by bribing officials in Bahrain. The federal investigation was triggered when Aluminum Bahrain BSC (“Alba”) filed a civil lawsuit three weeks ago in federal court in Pittsburgh accusing Alcoa of a 15-year […]
The Justice Department has intervened for the second time in civil suits brought by Aluminium Bahrain BSC — known as Alba — against its raw material suppliers and brokers. Last week, the DOJ asked for a stay in Alba’s suit against Japanese trading company Sojitz Corp. and its U.S. subsidiary. More than two years ago, […]