Today’s Wall Street Journal reports that Aluminum Bahrain BSC (“Alba”) has filed a lawsuit in federal court in Pittsburgh accusing Alcoa of a 15-year conspiracy linked to overcharging, fraud and bribery. The suit says more than $2 billion in Alba’s payments under supply contracts passed from Bahrain to tiny companies in Singapore, Switzerland and the […]
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Victor Dahdaleh, the London-based billionaire and former agent for Alcoa, went on trial Tuesday for making ‘corrupt payments’ of more than $65 million to the ex-chairman and chief executive of a Bahrain state-owned aluminum smelter.
Reuters’ Matt Daily said it best: A year ago, Alcoa Inc brought Siemens Chief Executive Klaus Kleinfeld across the Atlantic to take the helm of the U.S. aluminum giant. This week, his baggage arrived. Daily’s story is about Siemens’ decision to sue 11 former executives, including ex-ceo Kleinfeld. The company wants damages because of alleged […]
Aluminum Bahrain BSC (“Alba”) said last week it should be allowed to sue for damages in a U.S. court because it was victimized by alleged bribery and fraud that was ‘home-cooked . . . conceived, orchestrated, and directed in and from the United States.’
The London trial of former Alcoa super-agent Victor Dahdaleh ended Tuesday in a complete acquittal after two witnesses from a U.S. law firm involved in the investigation refused to testify and another witness changed his evidence, dealing a huge blow to the already embattled U.K. Serious Fraud Office.
Image courtesy of AlbaHere’s Alcoa’s disclosure from its Form 8-K filed with the SEC on January 10 about the FCPA enforcement action that landed 5th on our Top Ten list:
Leslie Caldwell, chief of the DOJ’s criminal division, talked at last week’s Annual Ethics and Compliance Conference in Atlanta. She covered the ten hallmarks of an effective compliance program and cooperation with the DOJ in FCPA and other white-collar investigations. Her examples of good and bad corporate behavior came from real life.
Aluminium Bahrain BSC — known as Alba — has filed a $31 million civil suit in federal court in Houston against Japanese trading company Sojitz Corp. and its U.S. subsidiary, Sojitz Corporation of America. The suit alleges that from 1993 to 2006, Sojitz paid $14.8 million in bribes to two of Alba’s employees in exchange […]
Last February, Aluminum Bahrain BSC, or Alba for short, made big headlines by filing an explosive federal lawsuit against Alcoa. Bahrain-owned Alba accused its long-time U.S. supplier of overcharging for raw materials during a 15-year period, and using some of the money to bribe Alba’s executives for more contracts. “Defendants’ conspiracy,” Alba said in a […]