ALUMINA SUPPLIERS PAY OUT USD384 MILLION IN BRIBERY CASE
January 1st, 2014
US-based Alcoa World Alumina LLC (AWA) and its majority-owner Alcoa Inc (Alcoa), the global alumina sales company, are to pay a total of USD384 million in penalties after AWA admitted funnelling bribes to officials in Bahrain.In 2004, an Alcoa company corruptly won a supply agreement with Bahraini government-controlled smelter Aluminium Bahrain BSC by agreeing to sell alumina ore through offshore shell companies owned by a sham London-based distributor who marked up the sales price by around USD188 million. According to court documents, it allegedly used this to ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.