ABB Charged With Bribing Mexican, Iraqi Officials

Law360, New York (September 29, 2010, 3:35 PM EDT) -- Federal prosecutors on Wednesday charged two ABB Ltd. subsidiaries with bribing government officials in Mexico and Iraq in order to secure electrical equipment and services contracts worth nearly $100 million.

One criminal information, filed in the U.S. District Court for the Southern District of Texas, alleges that ABB Inc. and certain co-conspirators unjustly enriched themselves by making concealed corrupt payments to officials at the Comision Federal de Electricidad, a Mexican utility responsible for supplying electricity to the whole country outside Mexico City.

Those bribes allowed ABB...
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