Energy Co. Alstrom Fined $43M In Swiss Bribery Probe

Law360, New York (November 22, 2011, 1:49 PM EST) -- Swiss prosecutors on Tuesday dropped their investigation into whether power company Alstrom SA bribed foreign officials to win contracts and ordered the company to pay 39 million Swiss francs ($42.7 million) in fines and compensation for corporate negligence.

Switzerland's Office of the Attorney General said Tuesday that it had effectively closed its criminal proceedings into French company Alstrom and its Swiss subsidiary Alstom Network Schweiz AG.

Swiss prosecutors opened investigations in 2007 into several hundred contracts signed by the company with commercial agents and consultants dating...
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